Tax Lien Lawyers in Fairmont

A "lien" in Fairmont, West Virginia is a type of security interest that one person or entity has in someone else's property. Typically, a lien is created by a court, to secure payment of a debt. A lien gives its holder many rights in the property that is subject to it, including the right to seize the funds if the property is sold, and priority access to the property, in front of other creditors.

As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Fairmont, West Virginia tax authorities, to collect taxes that the property-owner has failed to pay.

However, a tax lien in Fairmont, West Virginia will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Fairmont, West Virginia

Imposing a tax lien in Fairmont, West Virginia is typically an uncomplicated process. Generally, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.

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 certain period of time (usually 10 days) to pay what they owe.

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

Nonetheless, if the federal government does not seek to enforce a tax lien in Fairmont, West Virginia 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 guarantee that property is not encumbered by a lien forever.

How Can a Fairmont, West Virginia Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in West Virginia, you will probably have to deal with some fairly difficult legal issues, which might be complicated to a layperson.

Fortunately, Fairmont, West Virginia 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.