What does levying taxes mean?

Answer According to, if you are issued a Notice of Levy, the IRS may confiscate and sell your property in order to satisfy taxes you owe. Property confiscated may be real estate, vehicles, boats, ... Read More »

Top Q&A For: What does levying taxes mean

Does condo corp have legal basis for levying fines?

Yes. Read your governing documents to better understand the structure and power of the condominium association. Every condominium community is run according to CC&Rs and By-laws, and potentially ot... Read More »

What Does Homesteading in Taxes Mean?

In many states, homeowners can receive a discount on their property taxes, known as a homestead exemption, on the home they live in. However, some homeowners are not aware of this powerful tool to ... Read More »

What does it mean to claim yourself on your taxes?

When you claim yourself on taxes you are claiming a personal exemption;this exemption reduces your taxable income by $3,650 (as of 2010). You cannot claim this exemption if someone else meets the t... Read More »

What does"paid in arrears"mean related to property taxes?

To pay an item in arrears, is to pay for a bill after it is due, not prior to its occurrence. For example, by paying property taxes in arrears, a property owner is paying them after the taxes have ... Read More »