understatement
Defined in 2 places of the United States Code.
For purposes of paragraph (1), the term “understatement” means the excess of—
(i) the amount of the tax required to be shown on the return for the taxable year, over
(ii) the amount of the tax imposed which is shown on the return, reduced by any rebate (within the meaning of section 6211(b)(2)).
Source
- 1994–present26 U.S.C. § 6662Internal Revenue Code · Imposition of accuracy-related penalty on underpayments · in this section
For purposes of paragraph (1), the term "understatement" means the excess of—
(i) the amount of the tax required to be shown on the return for the taxable year, over
(ii) the amount of the tax imposed which is shown on the return, reduced by any rebate (within the meaning of section 6211(b)(2)).
The excess under the preceding sentence shall be determined without regard to items to which section 6662A applies.
Source
- 2005–202326 U.S.C. § 6662Internal Revenue Code · Imposition of accuracy-related penalty on underpayments · in this section
For purposes of this subsection, the term “understatement” has the meaning given to such term by section 6662(d)(2)(A).
Source
- 1998–present26 U.S.C. § 6015Internal Revenue Code · Relief from joint and several liability on joint return · in this section