Super Finance Glossary
Over 10,000 financial glossary terms...
Tax Liability (or Total Tax Bill)
Tax Liability (or Total Tax Bill)
Definition: The amount of tax that must be paid. Taxpayers meet (or pay) their federal income tax liability through withholding, estimated tax payments, and payments made with the tax forms they file with the government.
Definition: The amount of tax that must be paid. Taxpayers meet (or pay) their federal income tax liability through withholding, estimated tax payments, and payments made with the tax forms they file with the government.