Tax Lien Lawyers in Bolton

In Bolton, Massachusetts, a "lien" is a type of property right, which is created by a court to obtain 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 Bolton, Massachusetts, a "tax lien" is simply a lien imposed by the government to collect back taxes from a person or corporation, when other methods for collecting have failed.

Tax Liens in Bolton, Massachusetts are generally 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 virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Bolton, Massachusetts

In Bolton, Massachusetts, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine 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 immediate 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 further action required.

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

If you find yourself on the receiving end of a tax lien in Massachusetts, you are going to have to wade through some substantial and complex legal issues.

Accordingly, if you think that any piece of property you own might become subject to a tax lien in Bolton, Massachusetts, you should not hesitate to seek the advice of a competent tax attorney immediately.