REFUND
refund,n.1. The return of money to a person who overpaid, such as a taxpayer who
overestimated tax liability or whose employer withheld too much tax from earnings. [Cases:
Internal Revenue 4950; Taxation 535, 1097. C.J.S. Internal Revenue § 780; Social Security
and Public Welfare § 207; Taxation §§ 910–914, 919, 1679, 1690, 1764.] 2. The money returned
to a person who overpaid. 3. The act of refinancing, esp. by replacing outstanding securities with a
new issue of securities. — refund,vb. [Blacks Law 8th]