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It is an amount that you owe. More than likely something you have ignored the billing on. The creditor went to court and had a lien filed against you, which attaches to everything you own - saying no one else can get title to it (if property) or access it until the debt is satisfied.
If it's an income tax matter, they have the lien and the right to use whatever overpayments or refunds you have coming to paydown the account, hold back social security, etc. Other creditors would have similar abilities. The account and ebt continues to incur interest and charges until paid in full.
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∙ 12y ago
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What is an amount deducted from a bank account called?
debit
What does gross mean as far as tax is concerned?
The amount will not have tax deducted. i.e for a child under 16 the account should be gross not net.HTH
What is the meaning of net of regarding contributions for tax purposes?
Net = Amount after tax is deducted (Amount minus tax) Gross = Amount before any tax is deducted
Are used in place of writing checks The amount you spend using this card will be deducted from your checking account?
It sounds like you are describing a debit card or a check card.
Is tax amount deducted from gross sales to arrive at net sales?
No. tax is deducted from gross sales neither is it deducted from gross profit.
What is an amount deducted from a bank account called?
debit
What happens to a lien on a house after it expires?
The lain stays with the mortgage. And if the owner of the mortgage does not settle up with the lien holder that person cannot sell their house, car, boat or whatever the lien is on. They have to pay lien first or sell and before they get the money the amount of the lien will be deducted from total sell
Is the bank supposed to contact you if there is going to be a lien againts your account?
Check the laws of the state the account is in. But, Yes, the bank has to contact you to tell you the account is frozen by a lien. It will also tell you that you have a certain amount of time to go to court to object to the lien for whatever reason you think the lien is improper.
If you debit an account is it decrease or increase?
increase By debiting an account means,specific amount will be deducted for credit to the account for whom it is intended, which is contra entry by nature.
What does a pending bank transaction mean?
It is a transaction that has credited to or from your account but that has not been deducted from the amount you can visibly see upon any ATM or online bank statements for your account. Usually no mote than 2 to 3 days will be the amount of time needed for a transaction to how up as credit or debit ad to have been deducted or added to your account.
Are withdrawals deducted from net income?
Withdrawal are charged to drawing account and drawing account is contra account of capital account so withdrawal are deducted from capital account.
What is deducted amount?
what is the amount dedution for my medicare
What is No Lien Account?
No Lien accounts are account on which the concerned bank could not exercise its right of general lien (general terms and conditions).
What does gross mean as far as tax is concerned?
The amount will not have tax deducted. i.e for a child under 16 the account should be gross not net.HTH
What are the terms of a tax lien on your bank account?
A general tax lien filed with the state lien recording office will not automatically affect your bank accounts. The taxing authority must deliver the lien to the bank to effect the levy on the account according to the terms of the lien.
What does the word deductible mean?
Nothing, it is not a word in English.Deductible is. It means an amount removed from the principle sum. It can also mean the amount you have to pay on an insurance claim
What is the meaning of net of regarding contributions for tax purposes?
Net = Amount after tax is deducted (Amount minus tax) Gross = Amount before any tax is deducted
