Delinquency

Delinquency may have one of the following meanings, depending the context of the term:

1. in general, failure to make a payment on an obligation when due.

2. for taxes, the amount of past-due balances, determined on either a contractual or recency-of-payment basis.

U.S. Tax Meaning

Tax which is in default (i.e. due but not yet paid) is often referred to as a “delinquent” tax in North American parlance.