Getting refunds on Steam can be a tricky and/or futile process, but Valve has tried to simplify things with a brand new two-hour refund policy.
The policy begins today and allows users to request refunds within two weeks of their purchases. The only stipulation is that users can't play the game for more than two hours before requesting the refund. DLC can also be refunded, but the two-hour restriction still applies to the base game.
According to the new refund page on Steam, users can request a refund "for any reason." It will then be issued within one week of approval. If there are any issues with the original payment method, funds will be added to the user's Steam wallet.
As for in-game purchases, "Steam will offer refund for in-game purchases within any Valve-developed games within forty-eight hours of purchase, so long as the in-game item has not been consumed, modified or transferred." Third-party developers can follow suit if they so choose.
Movies and redeemed gifts are not eligible for refunds. In addition, players with VAC bans will be unable to receive a refund for that particular game.
More details on Steam's new refund policy can be found on its website.