- A fine, tax, or legal judgement imposed on an individual or legal entity.
Related Terms and Acronyms
- Collection — Definition,
- The efforts used to bring an overdue mortgage, or other debt current, and the filing of necessary notices to proceed with foreclosure when necessary.
- Direct Tax — Definition,
- A tax that is paid straight to the government.
- Indirect Tax — Definition,
- A tax that is collected by a third party before being transferred to the government.
- Judgement — Definition,
- A determination by a court of law or a judicial decision.
- Settlement — Definition,
- An agreement between the parties of a legal case.
- Tax (TX) — Acronym,
➥ Bank account transaction code.
- A levy paid by an individual or entity that is collected by a government.
- Tax Instalment Payment Plan (TIPP) — Acronym, Canada,
- A popular property tax payment plan that allows you to pay your taxes monthly without any penalties or additional charges.