Tax Debt
/ˈtæks dɛt/
Definitions
- (n.) An amount of money owed by an individual or entity to the government resulting from unpaid taxes.
The taxpayer was notified of her outstanding tax debt after failing to file returns for three years.
Forms
- tax debt
- tax debts
Related terms
See also
Commentary
Tax debt often triggers enforcement actions such as liens or levies, making prompt resolution important to avoid penalties.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.