Tax Lien Lawyers in Wheeling

A "lien" in Wheeling, West Virginia is a type of security interest that one person or entity has in someone else's property. Usually, 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 proceeds 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 Wheeling, West Virginia tax authorities, to compile taxes that the property-owner has failed to pay.

Of course, a tax lien in Wheeling, West Virginia isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Evidently, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Wheeling, West Virginia

The process of imposing a tax lien on property in Wheeling, West Virginia is normally fairly simple. The first step is for the IRS or local tax agency to determine that a person really 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 required to pay their taxes within 10 days.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this happens, the IRS or West Virginia tax agency will have considerable rights against the taxpayer's property.

However, in Wheeling, West Virginia, 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 certain period of time.

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

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

Fortunately for you, tax lawyers in Wheeling, West Virginia 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.