Tax Lien Lawyers in Monson

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

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

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

Tax Lien Procedure in Monson, Massachusetts

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

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has determined that they owe back taxes, and that they have a short period of time (typically 10 days) to pay them without incurring a penalty.

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.

However, if the federal government does not seek to enforce a tax lien in Monson, 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 Monson, 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 intricate and daunting legal issues.

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