understate

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References in periodicals archive ?
Like several of the other programs reviewed here, the program erred in its foreign tax credit calculation by understating the taxpayers' gross income from all sources.
Unfortunately, both the income and spending categories seriously misrepresent what is happening in the economy, understating income and overstating spending.
Sole proprietors not reporting all taxable income 24% Other individuals not reporting all taxable income 24% Large corporations understating their tax liability 19% Individuals not remitting all taxes due on their returns 9% Individuals who do not file a return 8% Individuals who take excessive deductions 6% Small corporations understating their tax liability 6% All other reasons 4%