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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.
deficiencynoun absence, dearth, defect, deficit, destitution, failing, failure to comply, falling short, fault, faultiness, flaw, foible, impairment, imperfection, inadequateness, incompleteness, incompletion, insufficiency, lack, loss, meagerness, need, 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, innome tax deficiency, liability for deficiency, mental deficiency, notice of deficiency, recovery of deficiency, tax deficiency
See also: absence, dearth, defect, deficit, delinquency, disadvantage, failure, fault, flaw, foible, frailty, handicap, insufficiency, mediocrity, need, omission, paucity, poverty, vice