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The court trimmed the total of his untaxed fraudulent income to $31,500 from the $53,000 listed by the IRS in its deficiency notice.
Financial and business terms. 2012.
notice of deficiency — UK US noun [C] (US ► TAX DEFICIENCY NOTICE(Cf. ↑deficiency notice): »It is not unusual for problems relating to a notice of deficiency to be resolved without fully litigating the issue in the Tax Court … Financial and business terms
notice — no‧tice [ˈnəʊts ǁ ˈnoʊ ] noun 1. [uncountable] information or a warning about something that is going to happen: • These rules are subject to change without notice (= no notice needs to be given ) . • Either party may terminate the contract with … Financial and business terms
deficiency — de·fi·cien·cy /di fi shən sē/ n pl cies: an amount that is lacking or inadequate: as a: the difference between the amount of tax owed and the amount of tax paid b: the difference between the amount owed under a security agreement and the amount… … Law dictionary
deficiency — A lack, shortage, or insufficiency. The amount by which the tax properly due exceeds the sum of the amount of tax shown on a taxpayer s return plus amounts previously assessed or collected as a deficiency, less any credits, refunds or other… … Black's law dictionary
deficiency — A lack, shortage, or insufficiency. The amount by which the tax properly due exceeds the sum of the amount of tax shown on a taxpayer s return plus amounts previously assessed or collected as a deficiency, less any credits, refunds or other… … Black's law dictionary
notice of deficiency — See: 90 day letter Category: Back Taxes & Tax Debt Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances Category: Business Cash Flow Problems & Bankruptcy Category: Bankruptcy, Foreclosure & Debt → Student Loan… … Law dictionary
tax deficiency notice — See ninety day letter (90 day letter)?? … Black's law dictionary
notice — Information; the result of observation, whether by the senses or the mind; knowledge of the existence of a fact or state of affairs; the means of knowledge. Intelligence by whatever means communicated. Koehn v. Central Nat. Ins. Co. of Omaha, Neb … Black's law dictionary
notice — Information; the result of observation, whether by the senses or the mind; knowledge of the existence of a fact or state of affairs; the means of knowledge. Intelligence by whatever means communicated. Koehn v. Central Nat. Ins. Co. of Omaha, Neb … Black's law dictionary
Deficiency judgment — A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. [1] The availability of a deficiency judgment… … Wikipedia
