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prescripción

English translation: expiry

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03:39 Dec 15, 2010
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / Taxation
Spanish term or phrase: prescripción
Hi all -

I have a report I am translating into English and am looking for a one-word equivalent of this word if possible. It does refer to the statute of limitations for tax liability.

It appears as a title in a table and underneath it is a date. (then there are four columns whose heading are years with amounts owed for each year underneath).

Can anyone suggest a heading that is concise (rather than: "Statute of limitations for tax liability expiration date")?

I am not sure what we would say in financial English.

Thanks!
opera1
United States
Local time: 05:40
English translation:expiry
Explanation:
I would suggest ...

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Note added at 1 hr (2010-12-15 05:26:47 GMT)
--------------------------------------------------

In this case, "Prescripción" means that you don't have to pay the tax because the statute of limitations has expired. ...
forum.wordreference.com/showthread.php?t=595007 - Cached
Selected response from:

David Hollywood
Local time: 07:40
Grading comment
Thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +2expiry
David Hollywood
4statute barred
Chris Lancaster
4Prescribedamendozachisum
3out of statute
Charles Davis
1Expiration of Statute
Steven Huddleston


Discussion entries: 1





  

Answers


15 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5
Expiration of Statute


Explanation:
I am uncertain what the proper term in finance would be or even if there is one, but I suppose it would be clear enough to just omit the [relatively] least relevant terms without losing much, especially since the target audience is familiar with the context, this being a financial report after all. (I may have over-omitted.)

Steven Huddleston
Mexico
Local time: 04:40
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 22
1 corroborated select project
in this pair and field What is ProZ.com Project History(SM)?
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
Prescribed


Explanation:
A suggestion, assuming that it is established in the text that it refers to statute of limitations for tax liabilites.

amendozachisum
Local time: 04:40
Specializes in field
Native speaker of: Native in SpanishSpanish, Native in EnglishEnglish
PRO pts in category: 71
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
expiry


Explanation:
I would suggest ...

--------------------------------------------------
Note added at 1 hr (2010-12-15 05:26:47 GMT)
--------------------------------------------------

In this case, "Prescripción" means that you don't have to pay the tax because the statute of limitations has expired. ...
forum.wordreference.com/showthread.php?t=595007 - Cached

David Hollywood
Local time: 07:40
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 718
Grading comment
Thanks!

Peer comments on this answer (and responses from the answerer)
agree  Neil Ashby
8 hrs

agree  Otto Albers
8 hrs
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5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
out of statute


Explanation:
I think this might work:
The statute of limitations (SOL) for a delinquent debt is the time limit for the creditor to file a lawsuit. This period starts when the debtor becomes delinquent. The fact that the SOL has "run" (expired) on a particular debt will not necessarily prevent a lawsuit from being filed (via a Summons And Complaint), but the defendant can have the suit dismissed on this basis.

The Statute Of Limitations only covers lawsuits, and SOL expiration does not affect other types of collection action or reporting of the account to credit bureaus. The creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.) However, they will generally put much less effort into collecting "Out-Of-Statute" debts, and may give up easily. Out-Of-Statute debts can still be reported to credit bureaus for the time limits specified in the Fair Credit Reporting Act.
http://www.cardreport.com/laws/statute-of-limitations.html

Charles Davis
Spain
Local time: 11:40
Native speaker of: Native in EnglishEnglish
PRO pts in category: 299
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10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
statute barred


Explanation:
Another option

Chris Lancaster
Spain
Local time: 11:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 76
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