Tax Liens in Peoria, Arizona

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In Peoria, Arizona, a "lien" is a security interest placed on a piece of property, normally land or a house, to secure the payment of a debt. It typically gives a creditor the right to take ownership of any equity that exists in the property, to secure the payment of the debt. If the owner sells the property, the creditor may also be entitled to the funds of the sale, up to the amount owed. It can also give the holder of the lien a higher priority status, giving them an advantage over competing creditors, if the debtor files bankruptcy.

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

However, like any other debt-collection method, a tax lien is worthless if the debtor has no considerable property on which a lien can be imposed. To get around this limitation, most tax liens in Peoria, Arizona apply to after-acquired property (property acquired after the lien was created). Most other liens only apply to certain pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Peoria, Arizona

Imposing a tax lien in Peoria, Arizona is usually an uncomplicated process. Typically, 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.

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 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 Arizona tax agency will have considerable rights against the taxpayer's property.

But, these rights are limited. In Peoria, Arizona, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Also, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By guaranteeing that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce forever.

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How Can a Peoria, Arizona Tax Lien Lawyer Help?

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

Therefore, it's important that you retain a tax attorney in Peoria, Arizona to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.

13 Tax Law cases posted to LegalMatch lawyers in Peoria

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Life in Peoria

Peoria, Arizona is situated in both Maricopa and Yavapai counties.  It is a major suburb of Phoenix and is home to a population of about 160,000 people.  Peoria has grown economically and industrially in recent decades. 

The city of Peoria, Arizona is known for developing and incorporating innovative technologies related to water irrigation and solar power harnessing.  For example, the Maricopa Solar Power Plant is located in Peoria and was completed in 2010. 

One of the main attractions in Peoria is the Peoria Sports Complex.  The stadium brings in many tourists, festivals, tours, concerts, and social events.  Several Major League Baseball teams use the stadium for spring training and year-round training.  The Peoria Sports Complex has contributed to much of the city's growth and economic development. 

Peoria's population continues to grow as more and more people relocate there for both work and leisure.  In fact, the name "Peoria" has almost become synonymous with leisure living and resort vacations in the state of Arizona. 

Lawyers in Peoria, Arizona engage in a number of legal services which assist the city's bustling social and economic scene.  Peoria attorneys enhance their skills through memberships in groups such as the West Maricopa County Bar Association. 

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