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notice of seizure

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Financial Dictionary

Notice of Seizure

A letter or written notice from the IRS informing the recipient that authorization has been given to liquidate his or her assets in order to cover the income taxes due.

Investopedia Commentary

This is not something you want to receive. Seizure is where the IRS comes in and takes your car, house, shirts, socks, and U2 posters.

See also: IRS, Liquidation

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