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Under Reporting

Under Reporting Definition

This is the illegal practice of reporting less income or revenue than one actually received in order to pay fewer taxes.  This practice affects social security, Medicare, and other federal projects.  On a corporate level, under reporting occurs when a public company illegally reports lower revenue in a quarter than was recorded.


Additional meaning of Under Reporting:

If under reporting is caught, usually through an audit, individuals and companies will pay penalties and can have criminal charges brought against them. 








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