underpayment

underpayment
underpayment UK US /ˈʌndəˌpeɪmənt/ noun [C or U]
► COMMERCE the act of paying someone too little for the work they do, or an occasion when this happens: »

Problems included underpayments to some employees.

► the act of paying less than is necessary or less than the value of something, or an occasion when this happens: »

She received a bill for underpayment of more than $1000.

 »

Much of the surplus is the result of underpayments to past policyholders.

► BANKING, FINANCE the act of making smaller payments than originally agreed when paying back a loan, or an occasion when this happens: »

It is important to have a loan with flexible features, which allow overpayment and underpayment.

 »

You will be charged interest and possibly surcharges on any underpayment.

→ Compare OVERPAYMENT(Cf. ↑overpayment)

Financial and business terms. 2012.

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Look at other dictionaries:

  • Underpayment Penalty — A tax penalty enacted on an individual for not paying enough of his or her total estimated tax and withholding. If an individual has an underpayment of estimated tax, they may be required to pay a penalty (on Form 2210). To avoid an underpayment… …   Investment dictionary

  • underpayment — noun see underpay …   New Collegiate Dictionary

  • underpayment — See underpay. * * * …   Universalium

  • underpayment — noun a) An insufficient payment b) The act of making such a payment …   Wiktionary

  • underpayment — n. payment that is lacking, payment that is not full …   English contemporary dictionary

  • underpayment — See: underpay …   English dictionary

  • underpayment — /ˌʌndə peɪmənt/ noun a payment of less than the correct invoiced amount …   Marketing dictionary in english

  • underpayment — noun 1. a payment smaller than needed or expected • Hypernyms: ↑payment 2. the act of paying less than required • Derivationally related forms: ↑underpay • Hypernyms: ↑payment, ↑defrayal, ↑ …   Useful english dictionary

  • underpay — underpayment /un deuhr pay meuhnt, un deuhr pay /, n. /un deuhr pay /, v.t., underpaid, underpaying. to pay less than is deserved or usual. [1840 50; UNDER + PAY1] * * * …   Universalium

  • estimated tax — es·ti·mat·ed tax n: a tax paid usu. quarterly by certain entities (as corporations or trusts) or individuals on income that is not subject to withholding ◇ A declaration of estimated tax is not required for federal income taxes for tax years… …   Law dictionary

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