- deficiency
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de·fi·cien·cy /di-'fi-shən-sē/ n pl -cies: an amount that is lacking or inadequate: asa: the difference between the amount of tax owed and the amount of tax paidb: the difference between the amount owed under a security agreement and the amount the creditor is able to recover upon default of the debtor by selling the collateral
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- deficiency
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I
noun
absence, dearth, defect, deficit, deprivation, destitution, failing, failure to comply, falling short, fault, faultiness, flaw, foible, impairment, imperfection, inadequacy, inadequateness, incompleteness, incompletion, infirmity, insufficiency, lack, loss, meagerness, need, noncompletion, nonfulfillment, nonperformance, omission, paucity, penury, poverty, privation, scarcity, short supply, shortage, shortcoming, sparsity, ullage, want, weakness
associated concepts: deficiency assessment, deficiency bill, deficiency decree, deficiency judgment, deficiency tax, income tax deficiency, liability for deficiency, mental deficiency, notice of deficiency, recovery of deficiency, tax deficiency
II
index
absence (omission), dearth, defect, deficit, delinquency (shortage), disadvantage, failure (falling short), fault (weakness), flaw, foible, frailty, handicap, insufficiency, mediocrity, need (deprivation), paucity, poverty, vice
Burton's Legal Thesaurus. William C. Burton. 2006
- deficiency
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n.A lack; a shortcoming; in taxation, the amount of tax owed that has not been paid on time.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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1) In tax, a difference found by the IRS between a taxpayers reported tax liability and the amount of tax the IRS says that the taxpayer should have reported.2) In lending, the remaining balance of the debt after the security for the loan has been sold following repossession or foreclosure.Category: Back Taxes & Tax DebtCategory: Business, LLCs & CorporationsCategory: Bankruptcy, Foreclosure & Debt → Student Loan DebtCategory: Bankruptcy, Foreclosure & Debt → Debt & Collection AgenciesCategory: Personal Finance & Retirement → Taxes
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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A shortage or insufficiency. The amount by which federal income tax due exceeds the amount reported by the taxpayer on his or her return; also, the amount owed by a taxpayer who has not filed a return. The outstanding balance of a debt secured by a mortgage after the mortgaged property has been sold to satisfy the obligation at a price less than the debt.
Dictionary from West's Encyclopedia of American Law. 2005.
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A shortage or insufficiency. The amount by which federal income tax due exceeds the amount reported by the taxpayer on his or her return; also, the amount owed by a taxpayer who has not filed a return. The outstanding balance of a debt secured by a mortgage after the mortgaged property has been sold to satisfy the obligation at a price less than the debt.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
