Tax Lien Lawyers in Marine City

In Marine City, Michigan, 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.

A tax lien, then, is simply a lien that is established for the particular purpose of collecting taxes from a delinquent tax payer in Marine City, Michigan.

Tax Liens in Marine City, Michigan are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial 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 Marine City, Michigan

The process of imposing a tax lien on property in Marine City, Michigan 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 the deadline passes without payment, most tax liens in Michigan take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.

Nonetheless, in Marine City, Michigan, 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 considerable 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 certain period of time.

How Can a Marine City, Michigan Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Michigan, and that they are going to pursue a tax lien to collect their money, things can get very difficult, extremely quickly.

Fortunately for you, tax lawyers in Marine City, Michigan are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.