deficiency


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Related to deficiency: Deficiency diseases, Deficiency judgment, Iron deficiency

Deficiency

The amount by which a project's cash flow is not adequate to meet debt service.

Deficiency

1. The amount by which cash flow falls short of debt service. For example, if a company has $300,000 in current liabilities and only $250,000 in cash flow for a given year, its deficiency is $50,000.

2. In taxation, the amount by which one's tax liability exceeds what the individual person or organization reported. For example, if the IRS disallows certain deductions that the taxpayer applied, he/she will owe more in taxes than he/she reported on the return. Deficiency is the amount this taxpayer still owes to the IRS.

deficiency

1. The amount by which an individual's or an organization's tax liability as computed by the Internal Revenue Service exceeds the tax liability reported by the taxpayer.
2. The amount by which a firm's liabilities exceed assets.

deficiency

The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property. The balance remaining, if any, may be collected by the lender by means of taking a deficiency judgment, unless prohibited by law or contract. Deficiency judgments may be collected just like any other judgment, through seizure of other assets or garnishment. There are two circumstances when a lender may not collect any deficiency:

1. In states with consumer protection statutes that outlaw deficiencies on first mortgages on a borrower's principal residence.

2. With mortgage loans designated as nonrecourse, meaning the lender and borrower agreed in advance that the property would stand for the debt and there would be no deficiency allowed in the event of foreclosure.

References in periodicals archive ?
In accordance with the recommendations of the delegation, the national programme for iodine deficiency took several urine samples from public school students in the northern emirates from May to July 2011 to check their iodine content and evaluate the current status of iodine deficiency.
The delegation met with the ministry's executive management to discuss the implementation steps of the iodine deficiency program according to international standards and policies in this regard.
the definition of the term material weakness and, when relevant, the definition of the term significant deficiency.
Enhanced visibility of deficiency reports across all services
6015(0 stand-alone cases without a deficiency determination, a motion to dismiss for lack of jurisdiction should be filed.
441, the IRS ruled that interest on a tax deficiency assessed for a period shall not begin to run until the deficiency is both due and unpaid.
The number of persons receiving deficiency payments at or near the limit climbed from 4,300 in 1983 to 29,000 two years later.
6015(e) did not contain the language, "against whom a deficiency has been asserted.
Current treatment for AAT deficiency often involves augmentation of the AAT protein itself via intravenous infusion of Prolastin, which is purified AAT derived from pooled human plasma (Sandhaus 1993, 2001; Stoller et al.
The report says that different deficiency tags are being used to cite the same problem, surveyors do not consistently cite deficiencies, and states differ on how many deficiencies they will cite for a single problem of noncompliance.
In reversing the termination, the ALJ dismissed 19 of the 27 deficiencies, including two immediate-jeopardy findings and the H-level deficiency.
The authors believe that the low glutathione which develops in many patients with HIV disease is a nutritional deficiency which can and should be corrected.