refund

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Related to refundable: Refundable Tax Credits

refund

noun compensation, cut, discount, money back, payment for expenses, rebate, recompense, recoupment, reduction, refundment, repayment, replacement, restitution, return, satisfaction, settlement

refund

verb adjust, compensate, dissolvere, give back, honor a claim, indemnify, make amends, make commensation, make good, make restitution, pay back, rebate, recompense, reddere, redeem, reimburse, repay, replace, requite, restore, return, satisfy, settle, square
See also: bear the expense, compensate, consideration, defray, discharge, indemnify, indemnity, payment, quit, rebate, reciprocate, recompense, recoup, reimburse, reimbursement, remunerate, repay, replace, replacement, restitution, restore, return

TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid.
     2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies which they may have paid, or so much as may be necessary. to pay the debts of the testator; and in order to insure this, they are generally authorized to require a refunding bond. Vide 8 Vin. Ab. 418; 18 In Vin. Ab. 273; Bac. Ab. Legacies, H.

References in periodicals archive ?
376 (2013), by specifying that refundable tax credits are taken into account as a negative amount of tax when calculating the penalty.
Holding: The Tax Court held the refundable portion of the QEZE real property tax credit was gross income under the tax-benefit rule because the Maineses received a tax benefit when their distributive share of Huron's income was lower due to Huron's property tax deduction.
For tax years 2008 through 2010, there was a refundable first-time homebuyer credit of up to $4,000 ($8,000 for married filing jointly) on homes whose purchase price did not exceed $800,000, as long as the taxpayer's modified adjusted gross income was not over $125,000 ($225,000 for married filing jointly).
Attorneys who handle real estate closings will have to, in addition to disclosing their fee in the HUD-1 (or other closing statement), will have to advise the client in writing that the fee is not refundable.
Refundable credits are not a new concept in the tax code.
Instead, $150 billion of the $350 billion tax cut results from a reduction in taxes on dividends, while low-income people are frozen out of a refundable child credit for the two years the $1,000 credit is in effect.
Other tax attributes that cannot be utilized on a current basis should be able to be monetized through a refundable mechanism or through a transfer to another group member.
Bush's proposal to create a refundable tax credit to cover the cost of tuition at religious and other private schools.
The annual cost of refundable state EITCs ranges from $11 million to $361 million.
One popular solution is the refundable tax credit, which makes it possible for people who owe no taxes to get the full value of a credit.
Let's focus on the creative use of liquidated home equity for the most common upfront fee concept: refundable and non-refundable entry fees.