LAW|civil law · FINANCE|taxation
- lian cánach Reference Faomhadh an téarma seo mar chuid de Thionscadal Lex
- ga
- tax lien | tax liens
- en
- Definition legal claim of the government against a person’s property when that person neglects or fails to pay a tax debt Reference "COM-EN, based on: US Department of the Treasury. Internal Revenue Service (IRS). Understanding a Federal Tax Lien, http://www.irs.gov/businesses/small/article/0,,id=108339,00.html [16.3.2012]"
- Comment It protects the government’s interest in all of the person’s property, including real estate, personal property and financial assets. It exists when: 1. the tax authority has assessed the person's tax liability; 2. the tax authority has sent the person a bill that explains how much they owe; 3. the person has neglected or refused to pay the debt in full and on time.