notice of deficiency


A notice sent by the Internal Revenue Service to a taxpayer stating that the taxpayer has not fully paid all taxes owed. The taxpayer is required to respond to a notice of deficiency, and has the right to dispute the notice if the assessment is believed to be in error.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Notice of Default notice of dishonor