[wideawake]

Can you discern and articulate a difference between "buy-and-hold" and "neglect?"

Indeed I can.

Someone who is buying and holding securities will usually report their dividend income on their taxes using the statements that their custodial institution sends them.

They do not allow their tax documents to return unopened to the sender for years.

If someone is buying and holding hard goods that they keep in a safety deposit box, they will pay the fees for the box rather than fail to pay for the box for years.

[coloradan]

Someone who is buying and holding securities will usually report their dividend income on their taxes using the statements that their custodial institution sends them.

Not all assets have dividends, e.g. Microsoft. In any case, if that's all the state has, they arguably have the power to seize back taxes, but not the underlying asset. ("Oh, you underpaid your property taxes by 1 cent, so your house is now The States.")

They do not allow their tax documents to return unopened to the sender for years.

Why would they be returned to sender at all? The guy lived in the same address for 50 years. That's where he lived. In any case, The State has the duty to inform underpayment of taxes, which they would know about if they were from declared dividends.