Tax Lien Lawyers in D'iberville

A "lien" in D'iberville, Mississippi 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 various 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 possible 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 acquire the payment of back taxes. A tax lien in D'iberville, Mississippi can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

Of course, a tax lien in D'iberville, Mississippi isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. Nonetheless, a tax lien applies to property that the taxpayer obtains even after the lien is created. Evidently, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in D

In D'iberville, Mississippi, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer really 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 some amount of money in back taxes, and that they have a small window of time (commonly 10 days or less) to pay it.

If the deadline passes without payment, most tax liens in Mississippi take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.

But, under federal law, there are limits to how tax liens can be enforced in D'iberville, Mississippi, and elsewhere. Typically, 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 D

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

Thankfully, D'iberville, Mississippi tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek qualified legal advice, to ensure that your legal rights are protected.