German translation: Zuschlag für die Verletzung von Sorgfaltspflichten bei der Steuererklärung
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11:17 Jul 4, 2002
English to German translations [PRO] Bus/Financial
English term or phrase:negligence penalty
If you are required to file a return, a negligence penalty or other sanction may be imposed on you if the IRS determines that an underpayment of tax results because you overstated a deduction for student loan interest.
It can't be "Fahrlässigkeit" in this context, I guess?
Explanation: I agree with Dilip that neglicence refers to the lack of diligence shown in preparing one's tax return, ie making mistakes in the calculation of deductions or erroneously deducting expenses that are non-deductible, without exercising the amount of care that IRD / IRS would have us exercise.
In contrast (Ver)Säumniszuschläge are charged if you file your return late or don't pay your tax on time (Säuniszuschlag = late payment penalty - Woywode, Accounting and Tax Dictionary) and are not the same as a negligence penalty.
As I have never heard of a Fahrlässigkeits- or Nachlässigkeitkeitszuschlag, I would translate as follows (in analogy with statutory negligence = Verletzung besonderer gesetzlicher Sorgfaltspflichten):
Zuschlag für die Verletzung von Sorgfaltspflichten bei der Steuererklärung - quite a mouthful, but that's just in keeping with the bureaucratese of a tax-related text.
No, a deduction is not a Freibetrag (=allowance), but an Abzug (Woywode).
Explanation: The word Nachlässigkeit means more or less taking negligent attitude towards important matters. The Fahrlässigkeit is more about life risk or risk of some physical injury. Hence in my opinion Nachlässigkeit is the correct word