Intaxification

Filed Under » ,
Dictionary Says

Definition of 'Intaxification'

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

Investopedia explains 'Intaxification'

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 Definitions

  • Income Tax

    A tax that governments impose on financial income generated by all entities within their jurisdiction. By law, businesses and individuals must file an income tax return every year to ...
    Read More »
  • Internal Revenue Service - IRS

    A United States government agency that is responsible for the collection and enforcement of taxes. The IRS was established in 1862 by President Lincoln and operates under the authority ...
    Read More »
  • Tax Return

    1. The tax form or forms used to file income taxes with the Internal Revenue Service (IRS). Tax returns often are set up in a worksheet format, where the income figures used to calculate ...
    Read More »
    • Audit

      1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm). ...
      Read More »
    • Interest

      1. The charge for the privilege of borrowing money, typically expressed as an annual percentage rate. 2. The amount of ownership a stockholder has in a company, usually expressed as a ...
      Read More »
    • Interest Rate

      The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual ...
      Read More »

Articles Of Interest

Partner Links