Refund

(redirected from refundable)
Also found in: Dictionary, Thesaurus, Financial, Idioms, Encyclopedia.
Related to refundable: Refundable Tax Credits

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Perhaps the best-known refundable tax credit is the (https://www.fool.com/taxes/2018/01/06/a-step-by-step-guide-to-the-earned-income-credit.aspx) Earned Income Tax Credit (EITC).
In addition, the amount of the credit doubled and the refundable portion increased by 40%.
Upon the passage of PATH, penalties for erroneous refund claims may now apply to disallowed refundable portions of tax credits.
A refundable tax credit would be fairer to low-income people than a uniform, standard tax credit would be, because low-income people would get as much in cash and savings from a refundable tax credit as higher-income people would, Pipes says.
The Sri Lankan government mandates a refundable deposit of $1,000 (Dh3,675) for private households in need of their nationals to work as maids.
Any siblings joining ASD will still pay the refundable deposit of Dh29,850 as long as the other sibling(s) are still currently attending ASD.
Unless Canadian governments address the refundable nature of these credits and consider other mechanisms for sponsoring low-income families, these tax credits are in danger of creating more of a health inequity among Canadian children.
The proposal to change the current system of deductions for retirement savings to one of refundable tax credits is just such a proposal.
According to him, Ceylon Electricity Board from mid 2009 has been following consumers who partly pay their electricity bills and had charged them to pay a refundable deposit equal to two months average.
12 January 2010 - Sales of refundable medicines by French chemists increased by 1.1% in 2009 on the back of the H1N1 flu pandemic and winter-related diseases, according to specialised data and consulting services provider IMS Health.