tax levy
Mandatory financial extraction
A tax levy is the legal seizure of property or assets to satisfy unpaid taxes.
Unlike a lien, which is a claim against property, a levy actually takes it—the IRS can levy bank accounts, wages, or real estate.
The government placed a tax levy on his savings account.
Tax levy also refers to the formal imposition of a tax by a governing body: The county approved a new tax levy for school funding.
- garnishmentCourt-ordered debt collection
- ordinanceOfficial government regulation
- arrearsOverdue financial obligations
- assessmentFormal evaluation of worth
- lienClaim securing debt
statute · assessed value · county assessor · delinquency · back taxes · seizure · distraint · withholding · encumbrance · collection agency · asset forfeiture · filing deadline · excise · IRS · regulation · dues · owed · enforcement
- taxestaxes, withholding, VAT, GST, federal taxes
- government actionslaws, policies, presidential decree, resolution, mandates
- taxationtaxable income, VAT, withholding, deductions, deduction
- ballot measuresproposition, propositions, initiative, measures, bond measure
- local financecommunity banks, budgets, regional banks, state bonds, county budget
- municipal budgetscity budget, general fund, fiscal year, expenditures, revenues
tax levygratuity
Payment beyond the bill
tip · bequest · charitable gift · charitable contribution · gift
tax levytax refund
Returned excess withholding
government subsidy · tax rebate · government grant · public benefit · stimulus check
tax levytax exemption
Freedom from governmental levies
tax relief · tax credit · tax break · tax abatement · tax deduction