Posts by admin

deficiency  letter.  1.  An  IRS  letter  to  a  taxpayer,  detailing  the  ways  in  which  a  tax  return seems to be deficient. 2. An SEC letter to a registrant of a securities offering, detailing the ways in which the registration statement seems not to conform to federal disclosure requirements. — Also termed letter of comment; letter…

deficiency judgment.See JUDGMENT. [Blacks Law 8th]

deficiency in tax.See DEFICIENCY(2). [Blacks Law 8th]

deficiency dividend.See DIVIDEND. [Blacks Law 8th]

deficiency bill.See BILL(3). [Blacks Law 8th]

deficiency assessment.See ASSESSMENT. [Blacks Law 8th]

deficiency,n.1. A lack, shortage, or insufficiency. 2. A shortfall in paying taxes; the amount by which the tax properly due exceeds the sum of the amount of tax shown on a taxpayer’s return. — Also  termed  tax  deficiency;  income-tax  deficiency;  deficiency  in  tax.  3.  The  amount  still  owed when the property secured by a mortgage…

deferred stock.See STOCK. [Blacks Law 8th]

deferred sentence.See SENTENCE. [Blacks Law 8th]

deferred revenue.See prepaid income under INCOME. [Blacks Law 8th]