Tax Lien

Tax Lien

Tax Lien means:
an encumbrance placed upon property as a claim for payment of a tax liability; it gives constructive notice to other creditors of a tax liability. A tax lien can attach to any property owned by a taxpayer or acquired after the lien is placed, and may be imposed for failure to pay city, county, estate, income, payroll, property, sales, or school taxes. The lien continues until the tax liability is satisfied or becomes unenforceable (see statute of limitations).

The following property is exempt from levy by the U.S. Internal Revenue Service:

• wearing apparel and school books.

• fuel, provisions, furniture, and personal effects.

• books and tools of a trade, business, or profession.

• unemployment benefits.

• undelivered mail.

• certain annuity and pension payments.

• workers' compensation payments.

• judgments for the support of minor children.

• minimum exemptions for wages, salary, and other income.

• certain service-connected disability payments.

• certain public assistance payments.

• assistance under the Job Training Partnership Act.

• a principal residence in the absence of certain approval or jeopardy assessment.

See Payroll Tax in the U.S. Legal Encyclopedia and Payroll Tax in the World Legal Encyclopedia.

See Tax exemption and Tax exemption.


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