Tax Lien in Largo, Florida

Find the right Tax Lien attorney in Largo, FL

Tax Lien Lawyers in Largo

In Largo, Florida, a "lien" is a security interest placed on a piece of property, normally land or a house, to secure the payment of a debt. It typically 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.

In Largo, Florida, a "tax lien" is simply a lien imposed by the government to compile back taxes from a citizen or corporation, when other methods for collecting have failed.

However, a tax lien in Largo, Florida will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Largo, Florida

In Largo, Florida, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has decided that they owe back taxes, and that they have a short period of time (normally 10 days) to pay them without incurring a penalty.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this happens, the IRS or Florida tax agency will have considerable rights against the taxpayer's property.

Nonetheless, in Largo, Florida, 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 certain period of time.

How Can a Largo, Florida Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of Florida that a tax lien has been imposed on your property, some pretty complex legal issues are necessarily involved.

Therefore, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to obtain the advice of a seasoned tax lawyer in Largo, Florida as soon as you can.

Talk to a Tax Law Attorney now!

Life in Largo

Largo is located in Pinellas County, Florida. It is part of the popular Tampa Bay. Today Largo is considered Florida's third largest city, populated with a very diverse crowd.

In the early years, Largo's economy was heavily dependent on agriculture. With the technology boom, that changed. Now, the vast majority of jobs in Largo are services, retail, and health car. Some of the top employers include Largo Medical Center Hospital, Sun Coast Hospital, Eckerd Corporation, Tech Data, Suntasia Marketing, and the County.

Large is also filled with many small law firms, practicing in many areas of law. For complex legal issues, nearby Tampa Bay has many large law firms that house excellent attorneys capable of handling even the most complex legal matter.

Some popular residents of Large include Chloe, Dexter McCluster, Leonard T Schroeder, Terrance Mann, and John Stansel Taylor.

All in all Largo is a small city with a prime location and a wonderful quality of life.

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