underpayment

un·der·pay

(ŭn′dər-pā′)

tr.v. un·der·paid (-pād′), un·der·pay·ing, un·der·pays

To pay insufficiently or less than is deserved.

un′der·pay′ment n.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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Noun	1.	underpayment - a payment smaller than needed or expected payment - a sum of money paid or a claim discharged
	2.	underpayment - the act of paying less than required defrayal, defrayment, payment - the act of paying money

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References in periodicals archive ?

The report advises that underpayment can be legitimate in a small number of cases.

Nearly 500,000 people paid less than the minimum wage

The waiver of underpayment penalties in some circumstances could be especially helpful given the confusion early in 2018 surrounding the official withholding tables that the IRS provided to employers -- and could avoid what would likely be an uproar among unsuspecting taxpayers who could have suffered as a result.

Why The IRS Just Cut Taxpayers Some Slack

The IRS is no longer required to collect from each partner/member his share of the underpayment of tax determined in a partnership audit.

New IRS audit rules and the need to revise your partnership/LLC agreement now

TUC leader Frances O'Grady said: "Minimum wage underpayment is happening on an industrial scale."

Minimum wage staff's PS1.4m back pay from cheat bosses

Chairman of the Commons Work and Pensions Committee, and former minister, Frank Field, told the Press Association: "It's like a pinball machine, the payments system - you might get an overpayment, you might get an underpayment.

Benefit claimants have been underpaid by [pounds sterling]1.7 BILLION this year - the highest level ever; Both under and overpayments have hit record levels as the DWP was branded a 'pinball machine' for public money

Taxpayers must pay their taxes throughout the year either through payroll withholding or by making quarterly estimated payments; otherwise, tax underpayment penalties are assessed.

Strategies for minimizing estimated tax payments

M2 EQUITYBITES-November 3, 2017-Revint Solutions Acquires Health Check to Expand Underpayment Recovery Capabilities

Revint Solutions Acquires Health Check to Expand Underpayment Recovery Capabilities

Partnerships that have an imputed underpayment arising from such audits have the option to pay assessment at the partnership level or push the assessment out their partners for payment.

TEI Issues Policy Statement Regarding the State Implementation of Federal Partnership Audit Rules

The beneficiary was paid about P5,000 a month only, a great underpayment.

Underpayment of SSS benefits

The new regime generally requires the additional tax on any partnership adjustments (the imputed underpayment) to be paid by the partnership but provides an election under Sec.

IRS reissues centralized partnership audit rules; CPAs urge postponement: a presidential regulatory freeze had delayed the proposed regulations' publication from early in 2017

If the amount paid is equal to or greater than one day's gross base pay the Underpayment will be rectified within three working days; If the amount is less than one day's gross base pay it will be rectified by no later than the next normal pay However if the employee can demonstrate that rectification in this manner would result in undue hardship every effort will be made by the employer to rectify the underpayment within three working days.