When Eddie Fisherâs best friend, producer Mike Todd, was killed in a 1958 plane crash, Mr. Fisher comforted the widow, Elizabeth Taylor. Amid sensationalist headlines, Mr. Fisher divorced Reynolds and married Taylor in 1959. The Fisher-Taylor marriage lasted only five years.
Definition of 'Federal (Tax) Lien'. A Federal (Tax) Lien is a federally authorized lien or security placed against any and all assets of a taxpayer who has unpaid back taxes. What is a Federal Tax Lien: The federal lien allows the Internal Revenue Service (IRS) to secure or otherwise requisition the taxpayer's property in order to secure payment.
A tax levy is one of the harshest collection mechanism used by the IRS and state taxing authorities. A levy is the legal seizure of taxpayers assets to satisfy back taxes owed. This is different from a tax lien because a lien is only a claim to your assets while a levy is the actual seizure of the assets. Taxation authorities may levy your bank accounts, investment accounts, accounts receivable, wages, social security, pensions, insurance policies and actual physical assets.