Tax Lien Lawyers in Ipswich

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

Tax Liens in Ipswich, Massachusetts are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's essential to note that practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Ipswich, Massachusetts

The process of imposing a tax lien on property in Ipswich, Massachusetts is normally fairly simple. The initial step is for the IRS or local tax agency to decide 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 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 Ipswich, 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 Ipswich, Massachusetts Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Massachusetts, and that they are going to pursue a tax lien to collect their money, things can get very difficult, extremely quickly.

Therefore, it's important that you retain a tax attorney in Ipswich, Massachusetts to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.