What is a tax true-up?

January 09, 2019

A true-up is when Peac Solutions reconciles the estimated taxes paid by the lessee to the actual tax billed by the tax jurisdiction. If the lessee overpaid the taxes, they will receive a credit, via check or credit to rental due. If the lessee underpaid, Peac Solutions will invoice the difference. This is a standard practice with leasing companies.

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