underpayment
1
5.5
- noun
- /ˌʌndərˈpeɪmənt/
:
subpago
- Of this $450 billion, 40 percent ($179 billion) related to underreporting of business income by individuals as well as underpayment of self-employment taxes.
- underpayment of tax
- penalty for underpayment
- underpayment of taxes
The first thing is that if you're getting a tax refund that in most cases you will not get charged an underpayment penalty by the IRS.
- The first thing is that if you're getting a tax refund that in most cases you will not get charged an underpayment penalty by the IRS.
- And then they say under these federal, state, and local laws, such conduct is unlawful even if it does not result in underpayment of taxes.
Examples
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Governments impose heavy fines on faltering companies and personally hold the CEO and some others totally responsible for underpayment of income taxes.
Blog text (32) -
If the claim results in an underpayment that leads to a penalty, clearly the taxpayer has a problem, and it is possible that the employer may have a problem too.
Academic text (1990) -
And then they say under these federal, state, and local laws, such conduct is unlawful even if it does not result in underpayment of taxes.
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Penalties for underpayment of taxes could reach as much as 40 percent of the amount owed and would fall on top of fines for failure to report.
Academic text (2003) -
They owed a penalty of $59 for the original underpayment.
Blog text (2) -
It is relatively easy to compute the underpayment gap, which is simply the difference between how much tax is reported by taxpayers and how much they actually pay on time.
Academic text (2017) -
So long as the tax withheld does not result in an underpayment of tax that would give rise to a penalty, it is unlikely that the IRS would press the technicality.
Academic text (1990) -
The attorney general's lawsuit, filed in New York State Supreme Court in Manhattan, requires Sprint to pay three times its underpayment of more than $100 million, plus penalties if found liable.
Blog text (8) -
With respect to the remaining two components of the tax gap, or the underpayment gap and the nonfiling gap, the difficulty of measurement varies, and the IRS uses different procedures.
Academic text (2017) -
Many workers in the construction industry face underpayment for their overtime hours.
Antonyms
How Big
Surface Forms
Morphology
Etymology
Underpayment is made of under- meaning 'below' and payment meaning 'giving money'. So an underpayment is paying 'below' what is owed, giving less money than required.