Tax Lien Lawyers in Bladensburg

In Bladensburg, Maryland, a "lien" is a type of property right, which is created by a court to obtain 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 Bladensburg, Maryland, a "tax lien" is simply a lien imposed by the government to collect back taxes from a person or corporation, when other methods for collecting have failed.

Tax Liens in Bladensburg, Maryland are generally 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 virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Bladensburg, Maryland

The actual process of setting up a Bladensburg, Maryland tax lien is usually pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, usually by finding that the debtor owes a significant amount of back taxes.

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 (usually 10 days) to pay them without incurring a penalty.

If the back taxes are not paid before the deadline is up, the lien will usually take effect immediately, with no further action by the IRS or Maryland tax agency, giving them all the rights in your property that the law allows.

However, in Bladensburg, Maryland, and anywhere else in America, a tax lien only lasts for 10 years, and then it automatically expires. If the IRS fails to exercise the substantial rights that it has under a tax lien within that period of time, it is assumed that they never intend to do so, and the lien will cease to exist. This ensures that valuable property is only kept out of the economy for a limited period of time.

How Can a Bladensburg, Maryland Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Maryland, you are going to have to wade through some substantial and complex legal issues.

Accordingly, if you think that any piece of property you own might become subject to a tax lien in Bladensburg, Maryland, you should not hesitate to seek the advice of a competent tax attorney immediately.