Tax Levy
/ˈtæks ˈlɛvi/
Definitions
- (n.) A legal seizure of property to satisfy a tax debt owed to a government authority.
The government initiated a tax levy on the taxpayer's bank account after unpaid taxes were overdue.
Forms
- tax levy
- tax levies
Related terms
See also
Commentary
A tax levy specifically involves compulsory collection methods, distinct from assessments or liens, and typically requires formal notice to the taxpayer.
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.