tax rebate
Returned overpaid taxes
A tax rebate is money returned to a taxpayer, typically when they've paid more than owed or when the government issues refunds as economic stimulus.
Unlike a deduction, which reduces taxable income, a rebate is actual cash back: We used our tax rebate to pay off the credit card.
Sometimes called a tax refund.
- overpaymentAmount paid exceeding debt
- money backReimbursement for purchases
- checkOrder to pay
- refund checkPayment returning owed money
- earned income creditTax benefit for low earners
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Funds sent to government
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Rise in taxation
tax penalty · tax hike · surtax · special assessment · penalty fee
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