Federal Tax Lien

Federal Tax Lien
A federally authorized lien against any and all assets of a taxpayer who has unpaid back taxes. The lien allows the Internal Revenue Service (IRS) to secure or otherwise requisition the taxpayer's property in order to secure payment. Federal tax liens can be assessed for unpaid taxes of any kind, including income, self-employment, gift or estate taxes.

Federal tax liens differ from tax levies in that they only denote the government's right to seize property, as opposed to the actual seizure of it. The IRS will often "perfect" a tax lien by filing notice with states and other creditors that it is first in line to receive payment for back taxes. Having a federal tax lien will substantially downgrade one's credit score, and in many cases this lien must be paid off in full before the taxpayer can obtain financing.


Investment dictionary. . 2012.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • federal tax lien — ➔ lien …   Financial and business terms

  • federal tax lien — noun lien of the United States on all property of a taxpayer who fails to pay the federal government the taxes for which he or she is liable • Hypernyms: ↑tax lien …   Useful english dictionary

  • Tax lien — A tax lien is a lien imposed on property by law to secure payment of taxes. Tax liens may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.Tax liens in… …   Wikipedia

  • tax lien — A lien on real estate in favor of a state or local government which may be foreclosed for nonpayment of taxes. The majority of the states have adopted the Uniform Federal Tax Lien Registration Act. See also tax. + tax lien A statutory lien,… …   Black's law dictionary

  • tax lien — noun lien of which a tax collector may avail himself in default of taxes (analogous to a judgment lien) • Hypernyms: ↑lien • Hyponyms: ↑federal tax lien, ↑state tax lien * * * noun : a statutory charge on property for taxes due giving the taxing… …   Useful english dictionary

  • tax lien — see lien Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tax lien …   Law dictionary

  • Tax Lien Foreclosure — The sale of a property resulting from the property owner s failure to pay tax liabilities. A tax lien foreclosure occurs when the property owner has not paid the required taxes, including property taxes and federal and state income taxes. A… …   Investment dictionary

  • Tax Lien — A claim imposed by the federal government to liquidate a person s property until the tax and debt owed is fully paid. Tax liens can be purchased from the government in the form of an investment …   Investment dictionary

  • Tax protester statutory arguments — Part of the Taxation in the United States series Tax protest in the United States …   Wikipedia

  • Lien — A security interest in one or more assets that is granted to lenders in connection with secured debt financing. The New York Times Financial Glossary * * * lien li‧en [ˈliːən, liːn] noun [countable] LAW 1. a person s or organization s right to… …   Financial and business terms

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”