Tax Lien Lawyers in Middleton

In Middleton, Idaho, 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 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 simply a lien that is established for the particular purpose of collecting taxes from a delinquent tax payer in Middleton, Idaho.

Of course, a tax lien in Middleton, Idaho isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. Nonetheless, a tax lien applies to property that the taxpayer obtains even after the lien is created. Evidently, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Middleton, Idaho

In Middleton, Idaho, 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.

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 specific period of time (normally 10 days) to pay what they owe.

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

Nonetheless, if the federal government does not seek to enforce a tax lien in Middleton, Idaho 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 guarantee that property is not encumbered by a lien forever.

How Can a Middleton, Idaho Tax Lien Lawyer Help?

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

Therefore, it's important that you retain a tax attorney in Middleton, Idaho 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.