Simple English definitions for legal terms
Read a random definition: CXT
Term: Tax Ferret
Definition: A tax ferret is someone who looks for things that should be taxed but haven't been yet. They are like detectives who search for things that people forgot to pay taxes on.
Definition: A tax ferret is a private individual who is hired to search for taxable property that has not been taxed yet.
Example: Let's say a city government suspects that some property owners are not paying their property taxes. They might hire a tax ferret to investigate and find out if any properties are being missed. The tax ferret would search public records and use other methods to identify any properties that are not being taxed.
Explanation: The example illustrates how a tax ferret works. They are hired by governments or other organizations to find taxable property that has not been taxed yet. This helps ensure that everyone is paying their fair share of taxes and that the government has enough revenue to provide services to the community.