Tax Lien in Owensboro, Kentucky

Find the right Tax Lien attorney in Owensboro, KY

Tax Lien Lawyers in Owensboro

In Owensboro, Kentucky, a "lien" is a type of property right, which is created by a court to obtain payment of a lawful debt. Usually, a valid lien gives its holder the right to seize the property subject to it, or at least some of the property's equity, to satisfy the debt. If the owner sells a piece of property that's subject to a lien, the creditor who owns the lien may be entitled to the proceeds, up to the amount you owe them. It can additionally put them "first in line" compared to other creditors, if the debtor files for bankruptcy.

A "tax lien," then, is a lien held by the government to collect a tax-related debt from a private entity, such as a person or corporation in Owensboro, Kentucky.

Of course, a tax lien in Owensboro, Kentucky 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. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Apparently, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Owensboro, Kentucky

The actual process of setting up an Owensboro, Kentucky tax lien is typically pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, typically by finding that the debtor owes a significant amount of back taxes.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

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

However, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Owensboro, Kentucky or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to prevent potentially-valuable property from being encumbered indefinitely. Basically, it creates a measure of certainty for both parties.

How Can a Owensboro, Kentucky Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of Kentucky that a tax lien has been imposed on your property, some pretty intricate legal issues are necessarily involved.

Thankfully for you, tax lawyers in Owensboro, Kentucky are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.

Talk to a Tax Law Attorney now!

Life in Owensboro

Owensboro, Kentucky is the third largest city in Kentucky, and it is the county seat of Daviess County. As of a 2009 estimate by the Census Bureau, it has a population of about 55,000 people.

Human habitation of the area now known as Owensboro dates back at least 12,000 years, with indigenous peoples populating the area, at least on a seasonal basis. The first known permanent settlement of Owensboro came in 1797, when William Smothers set up a trading post.

Modernly, Owensboro is a major center for Bluegrass music, and has a museum dedicated to the musical genre. It also has several different Bluegrass festivals throughout the year. Of historical note, it is also home to Temple Adath Israel. Built in 1877, this place of worship is one of the oldest synagogue buildings in the United States, and is listed in the National Register of Historic Places.

If you live in Owensboro, Kentucky, and are facing a legal issue, an Owensboro Kentucky attorney can probably help. Owensboro, Kentucky lawyers can handle just about any case a resident of the area might be dealing with.

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