The most straightforward job of the shareholder is to provide funds. In practice, however, it isnât straightforward at all. Corporations do need capital to invest in growth, but they donât get it in aggregate from shareholders.
Noun. 1. understatement-a statement that is restrained in ironic contrast to what might have been said. statement-a message that is stated or declared; a communication (oral or written) setting forth particulars or facts etc; according to his statement he was in London on that day.
There is a substantial estate or gift tax valuation understatement if the value of the property claimed on an estate or gift tax return is 65 percent or less of the corrected amount (or 40 percent or less in the case of a gross valuation misstatement). See IRC 6662(g)(1) and IRC 6662(h)(2)(C) respectively.