Tax Lien Lawyers in Ashburnham
In Ashburnham, Massachusetts, a "lien" is a type of property right, which is created by a court to acquire 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.
In Ashburnham, Massachusetts, a "tax lien" is simply a lien imposed by the government to gather back taxes from a citizen or corporation, when other methods for collecting have failed.
Tax Liens in Ashburnham, Massachusetts are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial to note that basically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Ashburnham, Massachusetts
In Ashburnham, Massachusetts, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).
At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands quick payment. It will typically give the taxpayer about 10 days to pay the demanded amount.
If the deadline passes without payment, most tax liens in Massachusetts take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.
Nonetheless, if the federal government does not seek to enforce a tax lien in Ashburnham, Massachusetts 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 Ashburnham, Massachusetts Tax Lien Lawyer Help?
If you end up having a tax lien imposed on your property in Massachusetts, you will probably have to deal with some fairly challenging legal issues, which might be complicated to a layperson.
Luckily, Ashburnham, Massachusetts tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek skilled legal advice, to ensure that your legal rights are protected.