Expected refund occasionally in recession (3)
I believe the answer is:
due
'expected' is the definition.
(similar in meaning)
'refund occasionally in recession' is the wordplay.
'occasionally' indicates alternate letters (letters taken at regular intervals or occasions).
'in recession' says the letters should be written in reverse (letters recede or go back).
The alternating letters of 'refund' are 'eud'.
'eud' backwards is 'DUE'.
(Other definitions for due that I've seen before include "Outstanding" , "Expected; appropriate" , "Expected at any moment" , "Owing, unpaid" , "Proper, appropriate" .)