Notice of Liability Statement- Limited Liability for Unpaid Deficiency of Transferor. If more than one year is involved in this example, show the transferee liability as one figure and do not allocate it to the various years. The statement shows two tax periods with a total of $13,000 in income tax deficiency and $2,600 in penalties. For the transferee, the income tax liability is listed as $9,000 and accordingly, the transferee’s liability is limited to that amount.