DEFINITION of 'Notice Of Seizure'

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

BREAKING DOWN 'Notice Of Seizure'

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.

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