from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Plural form of underpayer.
Sorry, no etymologies found.
Past IRS studies on the issue of noncompliance under the individual income tax suggest that the noncompliance rate—defined as the amount of tax liability for a given year not paid voluntarily and in timely fashion as a percentage of the total “true” tax liability—is in the range of 16.9 percent to 18.8 percent.6 This rate covers the sins of all nonfilers, underreporters, and underpayers.
Historically, overpayers outnumber underpayers by around three to one because the tax system errs on the side of taking too much money and letting people claim back any excesses.
The IRS determines the rates each quarter based on the federal short-term rate, plus a set number of percentage points - plus 3 for non-corporate payers and for corporate underpayers and plus 2 for corporate overpayers.