Tax Refund

A tax refund or tax rebate is a refund on taxes when the tax liability is less than the taxes paid. Taxpayers can often get a tax refund on their income tax if the tax they owe is less than the sum of the total amount of the withholding taxes and estimated taxes that they paid, plus the refundable tax credits that they claim. (Tax refunds are money given back at the end of the financial year.)

Famous quotes containing the word tax:

    Rumble thy bellyful! Spit, fire! Spout, rain!
    Nor rain, wind, thunder, fire are my daughters.
    I tax you not, you elements, with unkindness;
    I never gave you kingdom, called you children.
    William Shakespeare (1564–1616)