tax liability vs liabilities

tax liability and liabilities both are nouns.

Word	Noun	Adjective	Verb	Adverb
tax liability	Yes	No	No	No
liabilities	Yes	No	No	No

As nouns, liabilities is a hypernym of tax liability; that is, liabilities is a word with a broader meaning than tax liability:

tax liability: the amount of tax owed; calculated by applying the tax rate to the tax base
liabilities: anything that is owed to someone else

tax liability (noun)	liabilities (noun)
the amount of tax owed; calculated by applying the tax rate to the tax base	anything that is owed to someone else