Under Reporting

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Under Reporting

The act of deliberately understating personal income or corporate earnings. One usually underreports in order to pay less in taxes. For example, if one makes $50,000 in a year and reports $35,000, one does not pay taxes on the extra $15,000. Underreporting is illegal because it deprives the government of tax revenue.

Occasionally, underreporting refers to an illegal practice in which a company refrains from reporting earnings in one quarter in order to report them the following quarter. Companies usually do this to drive up the stock price.
References in periodicals archive ?
told the Court that TOBIN defrauded his worker's compensation insurer by materially under-reporting the payroll of Tobin & Sons Moving and Storage, Inc.
The ruling, imposed to prevent alleged under-reporting of king scallop catches, requires boats to report to Isle of Man ports each evening.
Hartnett-White oversaw the TCEQ practice of intentionally under-reporting levels of radiation in water and allowed at least 35 violations to go unreported, stated we dont need limits on carbon emissions and called carbon dioxide the gas of life, praised vehicle tailpipe pollution, criticized the Clean Air Act, and voted to allow construction of a new coal plant despite pollution concerns.
The Institute for Fiscal Studies (IFS) found 36% self-assessment payers had some under-reporting of their tax returns, rising to 60% among the self-employed.
The Comptroller and Auditor General (CAG), in its latest report presented in Parliament on Friday, said there was under-reporting of adjusted gross revenue (AGR) by the top three as well as Aircel, Reliance Communications (RCom) and Sistema Shyam Teleservices Ltd.
The figures are indicative; police and community experts believe there is huge under-reporting of hate crimes.
He, too, is being looked into for under-reporting or failing to report income or loans.
As OSHA transitions more to electronic recordkeeping and reporting, the agency should more easily identify employers who are under-reporting injuries.
The "all-time high" number comes into further focus when learning that CST reports "it is likely that there is significant under-reporting of anti-Semitic incidents to both CTS and the Police.
An analyst said, 'Banks are dramatically under-reporting attacks, they do what's legally required but out of embarrassment or fear of punishment they aren't giving the whole picture.
Among his topics are main components of occupational fraud, operating pending bankruptcy and lower established comparable sales as a catalyst for theft and sales under-reporting, understanding differences between franchise and company-owned operations, identifying loss in the retail restaurant industry, and keeping malware and sypware off office computers.
Under-reporting of the disease hampers health officials seeking to understand its prevalence - but tracking cases across the vast country of 1.