Tax Lien in Wilmington, Delaware

Find the right Tax Lien attorney in Wilmington, DE

Tax Lien Lawyers in Wilmington

In Wilmington, Delaware, a "lien" is a security interest placed on a piece of property, usually land or a house, to secure the payment of a debt. It generally 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 Wilmington, Delaware, a "tax lien" is simply a lien imposed by the government to collect back taxes from a citizen or corporation, when other methods for collecting have failed.

Tax liens in Wilmington, Delaware 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 Wilmington, Delaware

The process of imposing a tax lien on property in Wilmington, Delaware is usually fairly simple. The initial step is for the IRS or local tax agency to decide that a person actually 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 obligated to pay their taxes within 10 days.

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

But, under federal law, there are limits to how tax liens can be enforced in Wilmington, Delaware, and elsewhere. Generally, the IRS has 10 years to try and enforce a tax lien. If no effort is made to enforce a tax lien for 10 years, the lien is automatically lifted, and the lien holder loses all rights in it. This rule exists to ensure that the government collects its taxes in a reasonable time period, and it prevents valuable property (which could otherwise be contributing to the economy by being bought and sold) is not laded with a lien for an indefinite period of time.

How Can a Wilmington, Delaware Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in Delaware, you will probably have to deal with some fairly difficult legal issues, which might be complicated to a layperson.

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

Talk to a Tax Law Attorney now!

Life in Wilmington

Wilmington, Delaware is the largest city in the state of Delaware. It currently has a population of about 71,000 people.

The area now known as Wilmington was first colonized by settlers from Sweden in 1638. After World War II, Wilmington, Delaware saw a large increase in prosperity and population, which led to the growth of suburbs around the city.

One of the largest employers in Wilmington is the Port of Wilmington, a large deep-water port, which brings in about 5 million tons of goods each year, playing an important role in the region's economy.

Thanks to its large and diverse economy, the lawyers of Wilmington, Delaware have a broad range of experience and competence. If you live in Wilmington, Delaware and need an attorney, chances are good that there's a Wilmington lawyer who can help you with whatever legal issues you might be facing.

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