Tax Lien Lawyers in Stafford

In Stafford, Connecticut, 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 proceeds 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 Stafford, Connecticut, a "tax lien" is simply a lien imposed by the government to compile back taxes from a person or corporation, when other methods for collecting have failed.

Tax liens in Stafford, Connecticut are ineffective if the taxpayer doesn't have any property to place the lien on. However, essentially any property, including that which the taxpayer obtains after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Stafford, Connecticut

In Stafford, Connecticut, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has determined that they owe back taxes, and that they have a short period of time (normally 10 days) to pay them without incurring a penalty.

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

However, if the federal government does not seek to enforce a tax lien in Stafford, Connecticut 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 ensure that property is not encumbered by a lien forever.

How Can a Stafford, 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 difficult legal contentions.

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