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.
Quite simply, a tax lien represents an unpaid tax debt on a property. If a property owner does not pay their taxes within a certain time period (it varies by state), tax collectors will put the unpaid taxes up for auction. It is through this auction process that you have the opportunity to purchase a tax lien.. In the auction, the highest cash bidder wins. The bidder then pays the cash to the government in exchange for the lien, thereby transferring the risks -- and the rewards -- of the lien from the government to you.