Tax Lien Lawyers in Sunset Hills

A "lien" in Sunset Hills, Missouri is a property right that a person or entity has in property owned by someone else, created by law, for the purpose of enforcing a debt. A lien gives its holder several rights in the property of another person, including the right to seize the proceeds of a sale of the property, and, if the debtor files for bankruptcy, the right to go to the front of the line among other creditors, making it more likely that the lien holder will collect something.

A "tax lien" is simply a lien placed on a piece of property by the state or local government, to secure the payment of back taxes. A tax lien in Sunset Hills, Missouri can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

Tax liens in Sunset Hills, Missouri are ineffective if the taxpayer doesn't have any property to place the lien on. However, essentially any property, including that which the taxpayer obtains after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Sunset Hills, Missouri

The actual process of setting up a Sunset Hills, Missouri 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 Missouri tax agency, giving them all the rights in your property that the law allows.

However, in Sunset Hills, Missouri, 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 Sunset Hills, Missouri Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Missouri, 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 Sunset Hills, Missouri, you should not hesitate to seek the advice of a competent tax attorney immediately.