kickback

kickback
Payment back by seller of a portion of the purchase price to buyer or public official to induce purchase or to improperly influence future purchases or leases. Such payments are not tax deductible as ordinary and necessary expenses. I.R.C. No. 162.
Under federal statute kickbacks are a criminal offense in connection with a contract for construction or repair of a public building or a building financed by loans from the government. 18 U.S.C.A. No. 874.
Such acts are also generally prohibited by state commercial bribery statutes.
See also bribery

Black's law dictionary. . 1990.

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  • kickback — kick back , n. 1. recoil, of a gun or machine, as in older automobile engines when started by turning a crank. [PJC] 2. A secret, and usually illegal, payment, by a recipient of money paid for goods or services, to a facilitator of the… …   The Collaborative International Dictionary of English

  • kickback — (n.) also kick back, c.1900 in various mechanical senses, from KICK (Cf. kick) (v.) + BACK (Cf. back) (adv.). By 1926 in a slang sense of be forced to return pelf, pay back to victims, which was extended to illegal partial give backs of… …   Etymology dictionary

  • kickback — [n] bribe cut, gift, graft, money under the table*, oil*, payment, payoff, payola, percentage, recompense, reward, share; concepts 192,344 …   New thesaurus

  • kickback — ► NOUN 1) a sudden forceful recoil. 2) informal an illicit payment made to someone who has facilitated a transaction or appointment …   English terms dictionary

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  • kickback — UK [ˈkɪkˌbæk] / US noun [countable/uncountable] Word forms kickback : singular kickback plural kickbacks mainly American informal money paid illegally to someone in exchange for something that they have done for you …   English dictionary

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