Last Known Address

Notice of Deficiency
A Notice of Deficiency is a formal notice issued by the Internal Revenue Service (IRS) to a taxpayer, outlining the amount of additional tax owed and a summary of how the deficiency was calculated. This notice must be sent to the taxpayer's last known address to be legally valid.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.