Tax Lien Lawyers in Norfolk County
In Norfolk County, Massachusetts, a "lien" is a type of property right, which is created by a court to acquire 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 Norfolk County, Massachusetts, a "tax lien" is simply a lien imposed by the government to collect back taxes from a citizen or corporation, when other methods for collecting have failed.
Tax Liens in Norfolk County, Massachusetts are generally only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's critical to note that basically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Norfolk County, Massachusetts
The process of imposing a tax lien on property in Norfolk County, Massachusetts is usually fairly simple. The initial step is for the IRS or local tax agency to decide that a person actually owes back taxes, and that it is worth the effort to impose a lien.
At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.
If this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in Massachusetts have all the options in the taxpayer's property that any other lien holder would have, containing priority over competing creditors.
But, under federal law, there are limits to how tax liens can be enforced in Norfolk County, 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 Norfolk County, 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 perplexing legal issues.
Therefore, it's important that you hire a tax attorney in Norfolk County, 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.