Tax Lien Lawyers in Plainfield

In Plainfield, 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.

In Plainfield, Connecticut, a "tax lien" is simply a lien imposed by the government to gather back taxes from a citizen or corporation, when other methods for collecting have failed.

Tax liens in Plainfield, Connecticut 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 Plainfield, Connecticut

In Plainfield, Connecticut, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands quick payment. It will typically give the taxpayer about 10 days to pay the demanded amount.

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

Nonetheless, in Plainfield, Connecticut, 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 narrow period of time.

How Can a Plainfield, Connecticut Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Connecticut, and that they are going to pursue a tax lien to collect their money, things can get very confusing, quite quickly.

Therefore, if you think that any piece of property you own might become subject to a tax lien in Plainfield, Connecticut, you should not delay to seek the advice of a skilled tax attorney immediately.