Tax Lien in Decatur, Illinois

Find the right Tax Lien attorney in Decatur, IL

Tax Lien Lawyers in Decatur

In Decatur, Illinois, 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.

A tax lien, then, is simply a lien that is formed for the particular purpose of collecting taxes from a delinquent tax payer in Decatur, Illinois.

Of course, a tax lien in Decatur, Illinois isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. Nonetheless, a tax lien applies to property that the taxpayer obtains even after the lien is created. Evidently, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Decatur, Illinois

The process of imposing a tax lien on property in Decatur, Illinois is normally fairly simple. The initial step is for the IRS or local tax agency to decide that a person really owes back taxes, and that it is worth the effort to impose a lien.

They will then mail a document called a "notice and demand," which lets the taxpayer know that they owe money on their taxes, and that they have a specific period of time (normally 10 days) to pay what they owe.

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

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 Decatur, Illinois 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 Decatur, Illinois Tax Lien Lawyer Help?

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

Therefore, it's important that you retain a tax attorney in Decatur, Illinois to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.

Talk to a Tax Law Attorney now!

Life in Decatur

Decatur is the sixth most populated city in Illinois. A nickname for Decatur is the "Soybean Capital of the World."

Some popular sites in Decatur include Lake Decatur, Lincoln Trail Homestead State Memorial, Rock Springs, Fort Daniel Conservation Area, and Spitler Woods State Natural Area.

Decatur has been featured in some great movies. These movies include The Informant!, Leatherheads, Ferris Bueller's Day Off, Shaft, Bachelor Party, and So I Married and Axe Murderer.

Decatur has also been featured in TV shows such as The Fugitive, the Travel Channel's Most Terrifying Places in America, and The Colbert Report.

Along with the above, Decatur has a strong legal force capable of handling any and every legal inquiry!

Clients Rate LegalMatch Attorneys
(click to read reviews)

Joel C.
Joel C.

Tax Law

Davidson, TN

Edwin L.
Edwin L.

Tax Law

Fayette, TN

Tax Defense N.
Tax Defense N.

Tax Law

Ohio, TN