Tax Lien in Muncie, Indiana

Find the right Tax Lien attorney in Muncie, IN

Tax Lien Lawyers in Muncie

In Muncie, 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 Muncie, 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 Muncie, 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 Muncie, Indiana

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

If that time period expires, and the debtor still hasn't paid, the Indiana tax lien will go into effect automatically, with no further action required.

However, if the federal government does not seek to enforce a tax lien in Muncie, Indiana within 10 years of imposing it, federal law dictates that the lien automatically expires. This is effectively a statute of limitations on a tax lien, meant to encourage the federal government to collect its taxes in a reasonable period of time, and ensure that property is not encumbered by a lien forever.

How Can a Muncie, Indiana Tax Lien Lawyer Help?

If the federal government, or the government of Indiana informs you that they intend to place a tax lien on your property, you will likely face some pretty intricate and daunting legal issues.

Thankfully for you, tax lawyers in Muncie, 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 Muncie

Muncie is located in eastern Indiana, in Delaware County. It is known as the home to Ball State University and Ball Corporation. Muncie has a population of around 119,000 people.

Top employers include Wal-mart, Sallie Mae, General Motors, Ball Corporation, Delco Remy, Westinghouse, and Ball Memorial Hospital.

Additionally, Muncie is home to many attorneys who can handle any and every legal need. If a matter is too complex for these attorneys, the residents and corporations in Muncie have Chicago's strong legal force to tend to matters.

Some famous residents include Angelin Chang, Ron Bonham, Bill Dinwiddie, Brandon Gorin, and Bengamin V. Cohen.

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