Notice of Deficiency
/ˈnoʊtɪs ʌv dɪˈfɪʃənsi/
Definitions
- (n.) A formal written communication from a tax authority to a taxpayer stating a proposed tax deficiency and inviting response or payment before further enforcement.
The IRS issued a notice of deficiency to the taxpayer after an audit revealed unreported income.
Forms
- notice of deficiency
Related terms
See also
Commentary
Typically used in U.S. federal tax contexts; a crucial procedural document that triggers the taxpayer's right to petition the tax court.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.