underreport Meaning in the Cambridge English Dictionary

Meaning of “underreport” in the English Dictionary

"underreport" in Business English

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(also under-report) uk   us   /ˌʌndərɪˈpɔːt/
[I or T] ACCOUNTING, FINANCE to say that you have done, ​earned, ​sold, etc., less than you really have: Some of the ​companies clearly underreport. They underreported ​revenues to ​securepublicmoney for new stadiums.
[T] US TAX to ​record that you have ​earned less than you really have on your taxreturn (= a ​document in which ​income is ​reported each ​year so ​tax can be ​calculated): He under-reported his ​income by $548,000.
(Definition of underreport from the Cambridge Business English Dictionary © Cambridge University Press)
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