good faith

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Related to Good-faith: good-faith estimate, Good-Faith Deposit

good faith,

n honesty of intention. Generally, not a sufficient defense in a dental malpractice lawsuit.
References in periodicals archive ?
4942 and 4945 regulations, a private foundation will ordinarily be considered to have made a good-faith determination about a foreign organization if the determination is based on an affidavit of the grantee or on an opinion of counsel of either the grantor or the grantee.
Because the reasonable cause and good-faith determinations both involve a facts-and-circumstances analysis, it is perhaps most instructive to review those examples in an effort to see the terms' application in specific contexts.
Nevertheless, both the failure to amend (or repeal) the regulations containing the "no second chance" rule and the stated prospective effective date of the new tests make it unclear exactly when the Treasury will permit the special valuation rules to be used even if good-faith mistakes in using the rules (or unintentional failures to use the rules) are discovered on audit.
6664-4(c) would clarify and modify the standards for (and limits on) the use of opinions and advice to satisfy the reasonable-cause and good-faith exception under Sec.
It's amazing how you never hear from them again when you don't send them the good-faith money, isn't it?
In connection with that project TEI is pleased to submit these comments to supplement its original submission on section 6664(c)'s reasonable-cause and good-faith exception (hereinafter, "reasonable-cause exception") to imposition of the accuracy-related penalties.
Second, even if the IRS questioned a taxpayer's good-faith reliance on a more-likely-than-not opinion, from a practical standpoint, it has routinely waived penalties to encourage settlement and avoid time-consuming, costly litigation.
This is just for the city to make a good-faith effort to comply with a consent decree that has been in effect.
ii) the taxpayer makes a good-faith effort to comply with those procedures.
After making a good-faith determination that the foreign grantee is described in Secs.
28 decision of the 2nd District Court of Appeal allows the city to require contractors to make a good-faith effort to work with minority business enterprises and women business enterprises.
Thus, good-faith ignorance of the law may be a defense in a tax case.