Devolution and Refund

noun

• The process of declining from a higher to a lower level of effective power or vitality or essential quality.
  • synonyms: degeneration
• The delegation of authority (especially from a central to a regional government. ).
  • synonyms: devolvement

• (n.) The act of rolling down.
• (n.) Transference from one person to another; a passing or devolving upon a successor.

DEVOLUTION is the delegation of authority from higher to lower levels.

noun

• Money returned to a payer.
• The act of returning money received previously.
  • synonyms: repayment

verb

• Pay back.
  • usage: "Please refund me my money"
  • synonyms: return, repay, give back

• (v.t.) To give back; to repay; to restore.
• (v.t.) To pour back.
• (v.t.) To supply again with funds; to reimburse.
• (v.t.) To fund again or anew; to replace (a fund or loan) by a new fund; as, to refund a railroad loan.

Refund is the excess of your withholding and estimated tax payments for the year that you paid over your tax liability. Federal income tax refunds are not taxable. State income tax refunds may be taxable if you itemized your deductions in the year the state taxes were paid or withheld.