§015r. (CB) Refunds

Refunds

GAO Glossary of Terms and Definition (September 2005)

Refunds

Either (1) the return of money that the government improperly collected or collected in excess of the amount owed (for example, refund is money owed to taxpayers by the government when their total tax payments are greater than their total tax) or (2) money returned as an appropriation by outside sources for payments that the government made in error, overpayments, or adjustment for previous amounts disbursed.

(See also under Offsetting Collections under Collections.)