Tax Lien Lawyers in Las Vegas

A "lien" in Las Vegas, New Mexico is a property right that a person or entity has in property owned by someone else, created by law, for the purpose of enforcing a debt. A lien gives its holder numerous rights in the property of another person, including the right to seize the proceeds of a sale of the property, and, if the debtor files for bankruptcy, the right to go to the front of the line among other creditors, making it more possible that the lien holder will collect something.

In Las Vegas, New Mexico, 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.

Tax liens in Las Vegas, New Mexico are ineffective if the taxpayer doesn't have any property to place the lien on. However, basically any property, including that which the taxpayer acquires after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Las Vegas, New Mexico

In Las Vegas, New Mexico, 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 (usually 10 days) to pay them without incurring a penalty.

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

But, under federal law, there are limits to how tax liens can be enforced in Las Vegas, New Mexico, and elsewhere. Generally, the IRS has 10 years to try and enforce a tax lien. If no effort is made to enforce a tax lien for 10 years, the lien is automatically lifted, and the lien holder loses all rights in it. This rule exists to ensure that the government collects its taxes in a reasonable time period, and it prevents valuable property (which could otherwise be contributing to the economy by being bought and sold) is not laded with a lien for an indefinite period of time.

How Can a Las Vegas, New Mexico Tax Lien Lawyer Help?

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

Luckily for you, tax lawyers in Las Vegas, New Mexico are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.