Intaxification
Slang that describes the feeling of satisfaction and joy that a tax refund creates in a person. This feeling is somewhat misguided because the tax is only refunded because the person paid too much tax during the previous year. Investopedia Says:
While it may be more emotionally uplifting to receive a tax refund after tax season compared to having less tax removed from each paycheck, a tax refund, logically, is less desirable than owing tax. This means that you have given the government an interest-free loan; you paid out a little bit extra from each paycheck to the government and, at the end of the next tax season, you receive the same amount back. Related Terms:
Audit
Income Tax
Interest
Interest Rate
Internal Revenue Service - IRS
Tax Return |