Tax Lien in Indianapolis, Indiana

Find the right Tax Lien attorney in Indianapolis, IN

Tax Lien Lawyers in Indianapolis

In Indianapolis, Indiana, a "lien" is a type of property right, which is created by a court to obtain payment of a lawful debt. Usually, a valid lien gives its holder the right to seize the property subject to it, or at least some of the property's equity, to satisfy the debt. If the owner sells a piece of property that's subject to a lien, the creditor who owns the lien may be entitled to the proceeds, up to the amount you owe them. It can additionally put them "first in line" compared to other creditors, if the debtor files for bankruptcy.

A "tax lien" is simply a lien placed on a piece of property by the state or local government, to secure the payment of back taxes. A tax lien in Indianapolis, Indiana can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

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

Tax Lien Procedure in Indianapolis, Indiana

In Indianapolis, Indiana, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

If the back taxes are not paid before the deadline is up, the lien will typically take effect immediately, with no further action by the IRS or Indiana tax agency, giving them all the rights in your property that the law permits.

However, in Indianapolis, Indiana, 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 substantial 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 narrow period of time.

How Can a Indianapolis, Indiana Tax Lien Lawyer Help?

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

Thankfully for you, tax lawyers in Indianapolis, Indiana are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.

Talk to a Tax Law Attorney now!

Life in Indianapolis

Indianapolis is a wonderful place filled with many family attractions. Families have an ample selection of sights to see while visiting Indianapolis.

For starters, families can enjoy wonderful trips to the Children's Museum of Indianapolis, Indianapolis Museum of Art, the Indianapolis Motor Speedway and Hall of Fame Museum, and the Indianapolis Zoo. For families to relax and have some fun there is the Central Canal filled with gondola rides, pedal boating, and the like. There is also the Oldfields-Lilly House and Gardens, Victory Field, Fort Harrison State Park, and White River State Park.

Indianapolis is also filled with many small to mid-size firms that are home to enthusiastic attorneys who put their clients' needs above their own. Thus, Indianapolis residents are blessed with a family-friendly atmosphere and a capable legal force to handle any and every need.

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