The phrase "tax deficiency" is correct and usable in written English.
It can be used in contexts related to taxation, specifically when referring to an amount of tax that is owed but has not been paid.
Example: "The IRS notified me of a tax deficiency for the previous year, and I need to address it promptly."
Alternatives: "tax shortfall" or "tax arrears."
However, Government lawyers don't give up easily, especially where a large tax deficiency exists.
In a divided opinion, issued in September, 2010, the tribunal reversed the finding of a tax deficiency and ruled for Robertson on all four days.
Grable involved real property belonging to Grable & Sons Metal Products, Inc. (Grable), which the Internal Revenue Service IRSseizedzed to satisfy a federal tax deficiency.
The tax deficiency does not mean that pension benefits and medical bills of railroad workers and their families have gone unpaid.
In 2009, the I.R.S. filed a notice of tax deficiency for $3.9 million, arguing that the Lays should have reported the $10 million as income in 2001.
In each of the four cases decided today the allegedly unreported income comes from the same disclosed sources as produced the taxpayer's reported income and in none is the tax deficiency anything like the deficiencies in Johnson, Capone or Guzik.
On arrival we had found the door padlocked and plastered with official paper saying it had been nailed for tax deficiencies.
Also on Monday, the court agreed to hear a constitutional challenge to the United States Tax Court's procedure for deciding major cases, those in which the Internal Revenue Service claims tax deficiencies of more than $50,000.
The Commissioner of Internal Revenue assessed tax deficiencies against petitioners David and Louise Gitlitz and Philip and Eleanor Winn because they used nontaxed discharge of indebtedness to increase their bases in S corporation stock and to deduct suspended losses.
Asked to respond, Treasury spokesman Isaac Baker said, "Companies receiving government funds have certified to the federal government that they have paid all applicable taxes and have no tax deficiencies". The tax data were released yesterday after Lewis's committee asked the IRS for tax information on the 23 largest recipients of the $700 billion federal bailout.
The possibility of a civil fraud penalty would depend on the "willfulness" associated with any income tax deficiencies.
