Tax Lien Lawyers in Littleton

In Littleton, 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 Littleton, 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 Littleton, Massachusetts are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's necessary 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 Littleton, Massachusetts

The process of imposing a tax lien on property in Littleton, 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.

But, these rights are limited. In Littleton, Massachusetts, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Additionally, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By guaranteeing that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce forever.

How Can a Littleton, 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 Littleton, 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.