Tax Lien Lawyers in Belchertown
In Belchertown, Massachusetts, a "lien" is a type of property right, which is created by a court to acquire payment of a lawful debt. Generally, 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 also put them "first in line" compared to other creditors, if the debtor files for bankruptcy.
In Belchertown, Massachusetts, 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 Belchertown, Massachusetts are generally only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's important 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 Belchertown, Massachusetts
In Belchertown, Massachusetts, 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).
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 usually give the taxpayer about 10 days to pay the demanded amount.
If that time period expires, and the debtor still hasn't paid, the Massachusetts 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 Belchertown, 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 Belchertown, Massachusetts Tax Lien Lawyer Help?
If the federal government, or the government of Massachusetts informs you that they intend to place a tax lien on your property, you will likely face some pretty perplexing and daunting legal issues.
Luckily for you, tax lawyers in Belchertown, Massachusetts are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.