Tax Lien in Fairfield, Connecticut

Find the right Tax Lien attorney in Fairfield, CT

Tax Lien Lawyers in Fairfield

In Fairfield, Connecticut, a "lien" is a security interest placed on a piece of property, typically land or a house, to secure the payment of a debt. It usually 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.

A "tax lien," then, is a lien held by the government to collect a tax-related debt from a private entity, such as a citizen or corporation in Fairfield, Connecticut.

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

Tax Lien Procedure in Fairfield, Connecticut

Imposing a tax lien in Fairfield, Connecticut is normally an uncomplicated process. Usually, 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 given period of time (typically 10 days) to pay what they owe.

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

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Fairfield, Connecticut or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Fairfield, Connecticut Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Connecticut, you are going to have to wade through some substantial and complicated legal concerns.

Therefore, it's important that you contact a tax attorney in Fairfield, Connecticut 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.

Talk to a Tax Law Attorney now!

Life in Fairfield

Fairfield, Connecticut is a city located in Fairfield County. It has a population of approximately 57,000 people. Fairfield has been ranked by Money Magazine as one of the top 10 places to live in the U.S. It was ranked by the same publication as the best place to live in the Northeast, owing to its high median household income, relatively low home prices, extremely low crime rates, and quality of schools, among many other factors. Fairfield was originally established in the 1630s by a breakaway Puritan sect from the Massachusetts Bay Colony. During the American Revolutionary War, Fairfield was the site of significant fighting, and was particularly hard-hit by the ruthless, scorched-earth tactics of some British commanders, with many residents having their homes and businesses burned. Modernly, Fairfield, Connecticut is home to a large number (for a city its size) of major multinational corporations, including General Electric. It shouldn't be a surprise, then, that Fairfield, Connecticut is home to quite a few competent attorneys, who have to be ready to serve an extremely diverse and sophisticated client base. It's very likely that, whatever Fairfield, Connecticut lawyer you choose, they'll be able to help you with your legal problem.

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