Tax Lien Lawyers in Hartford County

In Hartford County, Connecticut, a "lien" is a security interest placed on a piece of property, usually land or a house, to secure the payment of a debt. It generally gives a creditor the right to take ownership of any equity that exists in the property, to secure the payment of the debt. If the owner sells the property, the creditor may also be entitled to the funds of the sale, up to the amount owed. It can also give the holder of the lien a higher priority status, giving them an advantage over competing creditors, if the debtor files bankruptcy.

A "tax lien," then, is a lien held by the government to collect a tax-related debt from a private entity, such as a citizen or corporation in Hartford County, Connecticut.

However, like any other debt-collection method, a tax lien is worthless if the debtor has no significant property on which a lien can be imposed. To get around this limitation, most tax liens in Hartford County, Connecticut apply to after-acquired property (property acquired after the lien was created). Most other liens only apply to specific pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Hartford County, Connecticut

Imposing a tax lien in Hartford County, Connecticut is typically an uncomplicated process. Generally, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.

At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands quick payment. It will usually give the taxpayer about 10 days to pay the demanded amount.

If this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in Connecticut have all the options in the taxpayer's property that any other lien holder would have, containing priority over competing creditors.

Nonetheless, in Hartford County, Connecticut, and anywhere else in America, a tax lien only lasts for 10 years, and then it automatically expires. If the IRS fails to exercise the considerable rights that it has under a tax lien within that period of time, it is assumed that they never intend to do so, and the lien will cease to exist. This ensures that valuable property is only kept out of the economy for a limited period of time.

How Can a Hartford County, Connecticut Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Connecticut, and that they are going to pursue a tax lien to collect their money, things can get very perplexing, very quickly.

Luckily for you, tax lawyers in Hartford County, Connecticut are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.