Tax Lien Lawyers in Suitland Silver Hill

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

However, a tax lien in Suitland Silver Hill, Maryland will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Suitland Silver Hill, Maryland

In Suitland Silver Hill, Maryland, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).

At this point, they will send the taxpayer a written notice stating that they owe a particular amount of money in back taxes, and that they have a small window of time (frequently 10 days or less) to pay it.

If the back taxes are not paid before the deadline is up, the lien will typically 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 permits.

But, under federal law, there are limits to how tax liens can be enforced in Suitland Silver Hill, Maryland, and elsewhere. Usually, 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 Suitland Silver Hill, Maryland Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in Maryland, you will probably have to deal with some fairly challenging legal issues, which might be intricate to a layperson.

Therefore, if you think that any piece of property you own might become subject to a tax lien in Suitland Silver Hill, Maryland, you should not delay to seek the advice of a skilled tax attorney immediately.