Tax Lien Lawyers in Silver City

A "lien" in Silver City, 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 Silver City, 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 Silver City, 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 Silver City, New Mexico

The process of imposing a tax lien on property in Silver City, New Mexico is usually fairly simple. The initial step is for the IRS or local tax agency to decide that a person actually owes back taxes, and that it is worth the effort to impose a lien.

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

If the deadline passes without payment, most tax liens in New Mexico take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.

Nonetheless, in Silver City, New Mexico, 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 considerable 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 limited period of time.

How Can a Silver City, 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.

Fortunately, Silver City, New Mexico tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek competent legal advice, to ensure that your legal rights are protected.