In 1988 interest on consumer loans and tax deficiencies will be only 40 percent deductible.

He conceded enough of the deductions to bring his tax deficiency to about $9,500 for each of the two years involved.

The tax commissioner decided that it was income and assessed a tax deficiency, which plaintiffs paid, and thereafter filed a claim for a refund.

In 1939 the estate was held to be an association, and tax deficiencies were levied against the trust beneficiaries for unpaid taxes owed to the Internal Revenue Service.

Warning About Future Benefits The tax deficiency does not mean that pension benefits and medical bills of railroad workers and their families have gone unpaid.

The Commissioner believed that this amount should have been included in income, and determined a tax deficiency.

The Commissioner of Internal Revenue assessed a tax deficiency after determining the taxpayers (the Gotchers) had realized income of $1,372.30 from the trip.

Most of the tax deficiencies and penalties were attributed to the disallowance of certain deductions from management's leveraged buyout of the company in 1985.

The Internal Revenue Service (IRS) audited the utility and assessed a tax deficiency.

But he said taxpayers would still be subject to interest charges on tax deficiencies because the law gives the agency no such discretion in such matters.