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âº a difference between two figures, results, etc. that are expected to be the same: A balance sheet review uncovered discrepancies totalling â¬30 million. Shareholders questioned the discrepancy between pay figures in the trust's annual report and those shown in the accounts.
When the IRS finds a discrepancy between an individualâs. income tax filing and records from other sources, it may use a. ânotice of deficiencyâ to inform the taxpayer that it intends to. collect the difference in owed taxes . 26 C.F.R. Â§ 301.6212- 1.