A
tax refund or
tax rebate is a refund on
taxes when the tax liability is less than the taxes paid. Taxpayers can often get a tax refund on their income tax if the tax they owe is less than the sum of the total amount of the
withholding taxes and estimated taxes that they paid, plus the
refundable tax credits that they claim. (Tax refunds are money given back at the end of the financial year.)