What Is It? Lazy eye, also called amblyopia, is an eye problem that can occur in growing children. In the typical child with lazy eye, the right and left eyes have significantly different qualities of vision, so that the images produced by one eye are weak or distorted compared with the images produced by the other eye.
Understatement Examples. Understatement is a figure of speech in which there is a contrast between the description and reality. As such, understatement can be used to reflect modesty, sarcasm, derogatory or complimentary tone.
Penalty for Substantial Understatement of Taxes. You understate your tax if the tax shown on your return is less than the correct tax. The understatement is substantial if it is more than the larger of 10 percent of the correct tax or $5,000 for individuals. For corporations, the understatement is considered substantial if the tax shown on your return exceeds the lesser of 10 percent (or if greater, $10,000) or $10,000,000.