Glossary entry

English term or phrase:

offset

Spanish translation:

compensación de deuda (mediante impuestos)

Added to glossary by MPeralta
May 27, 2008 17:34
15 yrs ago
7 viewers *
English term

offset

English to Spanish Bus/Financial Law: Taxation & Customs
Form 8379, Injured Spouse Claim and Allocation, is being filed with your return. The IRS will calculate the amount of refund due. The IRS will process your claim before an offset occurs and therefore filing Form 8379 with your reutrn may delay your refund by 6 to 8 weeks.

This is basically a form that is filed by the spouse of a taxpayer who has a debt owed such as back child support. The spouse who filed a joint tax return may have normally been able to file a tax return and receive a refund. However, since that person filed a joint return with their spouse the IRS will keep any refund owed and use it to offset the other spouse's bad debt. So, in this case this is what offset is referring to. The "injured" spouse the one who should have received the refund will have to then file this form to claim or ask for the refund after the tax return is filed. I hope this helps.

I believe the word is "compensación" and I have translated it as following:

EL IRS procesará su solicitud de asignación antes de que occura una compensación.

Any suggestions are greatly appreciated.

Discussion

Virginia Feuerstein May 27, 2008:
El IRS procesará su solicitud de asingnación antes de que ocurra una compensación de deuda.

Proposed translations

+1
3 hrs
Selected

compensación de deuda (mediante impuestos)

Se reconoce una deuda y la misma se paga aceptando que el estado deduzca el monto de la misma de la devolución de los impuestos correspondiente.

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Note added at 3 horas (2008-05-27 20:44:33 GMT)
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poniendo sólo compensación puede ser confuso, ya que la compensación puede entenderse como que se recibe un dinero. En este caso el dinero se deduce, por eso se dice que se compensa. No se abona la deuda en efectivo, sino que se descuenta del dinero a recibir.
Peer comment(s):

agree Penelope Ausejo
2338 days
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Si asi es. Muchas gracias."
+2
50 mins

compensación

yes, offset in this context is "compensar". but the phrase might be something like... "antes de cualquier compensación"
Note from asker:
Gracias!
Thank you.
Peer comment(s):

agree MikeGarcia
2 mins
Gracias Miguel.
agree Annissa 7ar
4 hrs
Something went wrong...
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