Tax Lien Lawyers in Holbrook

In Holbrook, Massachusetts, a "lien" is a type of property right, which is created by a court to obtain payment of a lawful debt. Typically, 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 further put them "first in line" compared to other creditors, if the debtor files for bankruptcy.

In Holbrook, Massachusetts, a "tax lien" is simply a lien imposed by the government to compile back taxes from a person or corporation, when other methods for collecting have failed.

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

Tax Lien Procedure in Holbrook, Massachusetts

The process of imposing a tax lien on property in Holbrook, Massachusetts is normally fairly simple. The first step is for the IRS or local tax agency to determine that a person really owes back taxes, and that it is worth the effort to impose a lien.

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

However, if the federal government does not seek to enforce a tax lien in Holbrook, 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 ensure that property is not encumbered by a lien forever.

How Can a Holbrook, 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 hard legal issues, which might be complex to a layperson.

Fortunately for you, tax lawyers in Holbrook, Massachusetts 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.