Tax Lien in Winter Springs, Florida

Find the right Tax Lien attorney in Winter Springs, FL

Tax Lien Lawyers in Winter Springs

In Winter Springs, Florida, 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.

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

However, a tax lien in Winter Springs, 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 Winter Springs, Florida

The actual process of setting up a Winter Springs, Florida tax lien is usually pretty simple. The agency responsible for collecting taxes must first decide that a tax lien is warranted, usually by finding that the debtor owes a significant amount of back taxes.

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 (usually 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 occurs, the IRS or Florida tax agency will have significant rights against the taxpayer's property.

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Winter Springs, Florida or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Winter Springs, Florida Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Florida, you are going to have to wade through some substantial and perplexing legal issues.

So, 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 seek the advice of a reputable tax lawyer in Winter Springs, Florida as soon as you can.

Talk to a Tax Law Attorney now!

Life in Winter Springs

With a population of just around 35,000 Winter Springs, Florida is a popular city to visit and live in. Winter Springs is located in Seminole County and comprises 14.1 square miles. The city has seven public schools and two private schools within its city limits.

The city of Winter Springs has been recognized as a top place to live by Money Magazine and was recently ranked the second best city to live in Florida. With so much recognition it is easy to see why so many businesses have decided to call Winter Springs Home.

Professionals such as bankers, accountants, and lawyers also take advantage of the work/life balance the city of Winter Springs has to offer. Winter Springs lawyers are skilled in a range of practice areas and are always happy to help their local client with whatever legal issue he or she may be dealing with at the time. Whether looking for simple solution to a small legal problem or engaged in a lengthy trial, Winter Springs lawyers are some of the best in the business.

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