| Refund |
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Money owed to a taxpayer when total tax payments are greater than total tax due. Refunds are received from the government when a taxpayer files a tax return. |
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| Refund Anticipation Loan (RAL) |
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A RAL is a high-interest loan usually offered by a tax preparer. Called "instant" or "24-hour" refunds, RALs are in fact loans that involve fees and interest and reduce the amount of any refund. |
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| Risk |
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The degree of uncertainty of a return on an asset. Usually the higher the risk, the higher the rate of return and the higher chance of default. |
