Tax refund


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Related to Tax refund: tax return

Tax refund

Money back from the government when too much tax has been paid or withheld from a salary.

Tax Refund

Money given back to a taxpayer if he/she/it has paid too much in taxes for a given year. Tax refunds are most common for employees from whose paychecks too much has been withheld because of deductions and credits for which the withholding does not account. One may only collect a tax refund for a certain number of years after it was originally due.
References in periodicals archive ?
The number of a taxpayer's account to which the direct deposit of a tax refund should be sent.
Liberty Tax Service (Liberty) today announced that they have signed a three year agreement with Republic Bank (Republic) (NASDAQ:RBCAA) to have Republic provide tax refund products for over 90% of Liberty's locations.
SOUTHLAKE, Texas, April 8, 2015 /PRNewswire/ -- As taxpayers scramble to finish those final tax forms by the April 15 deadline, tax filing season will soon be replaced by a much happier time of the year: Tax refund season.
Rift has already helped more than 23,000 construction workers to get tax refunds worth PS45million.
Reviewing relevant tax information during the year to avoid the potential of a large offset of a tax refund from the state or Federal government; and
Taxpayers often deduct an amount in one year and recover it in a subsequent year (for example, state income tax refunds, bad debt recoveries and medical expense and casualty loss reimbursements).
Created by Visa during the 2006 tax season, consumers depositing their Federal Tax refunds or refund anticipation loans to Visa prepaid debit cards were entered to win ten times their tax refund amount, up to $25,000.
On average, each taxpayer will receive a tax refund check for approximately $3,000 according to the IRS.
An account was opened using the tax refund check, authorities said.
The fastest way to file your tax return is online and tax payers who want an early refund recognize that the quickest way to receive a tax refund is to have it directly deposited into an account," said Jim Jones.
The current record figure was the result of significant tax refund intercept activity and the dedicated efforts of my child support division.
The practical effect of this special procedure is to allow the wholesale distributor to claim the tax refund when the gasoline is sold to a state and local government, non-profit educational organization or certain other exempt users; thus, the wholesale distributor can sell the gasoline at a price that excludes the Federal excise tax, or can reimburse the tax-exempt user after receiving the tax refund.