underreport
verb
(alsounder-report)uk/ˌʌndərɪˈpɔːt/us[IorT]ACCOUNTING,FINANCE
to say that you have done,earned,sold, etc., less than you really have:
Some of thecompaniesclearlyunderreport.
They underreportedrevenuestosecurepublicmoneyfor newstadiums.
[T]TAXUS
torecordthat you haveearnedless than you really have onyourtaxreturn(= adocumentin whichincomeisreportedeachyearsotaxcan becalculated):
He under-reported hisincomeby $548,000.
Compare
overreport