Tax Lien Lawyers in Pembroke Park

In Pembroke Park, Florida, 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 Pembroke Park, Florida, 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.

However, a tax lien in Pembroke Park, Florida will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Pembroke Park, Florida

In Pembroke Park, Florida, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer actually owes taxes that they haven't paid (that they're delinquent in their taxes).

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

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

But, under federal law, there are limits to how tax liens can be enforced in Pembroke Park, Florida, 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 Pembroke Park, Florida Tax Lien Lawyer Help?

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

Therefore, it's important that you hire a tax attorney in Pembroke Park, Florida 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.