Tax Lien in Chapel Hill, North Carolina

Find the right Tax Lien attorney in Chapel Hill, NC

Tax Lien Lawyers in Chapel Hill

A "lien" in Chapel Hill, North Carolina 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 Chapel Hill, North Carolina can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

However, like any other debt-collection method, a tax lien is worthless if the debtor has no substantial property on which a lien can be imposed. To get around this limitation, most tax liens in Chapel Hill, North Carolina apply to after-acquired property (property acquired after the lien was created). Most other liens only apply to particular pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Chapel Hill, North Carolina

Imposing a tax lien in Chapel Hill, North Carolina is normally an uncomplicated process. Usually, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are obligated to pay their taxes within 10 days.

If that time period expires, and the debtor still hasn't paid, the North Carolina tax lien will go into effect automatically, with no additional action required.

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Chapel Hill, North Carolina or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Chapel Hill, North Carolina Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of North Carolina that a tax lien has been imposed on your property, some pretty intricate legal issues are necessarily involved.

Thus, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to pursue the advice of a reliable tax lawyer in Chapel Hill, North Carolina as soon as you can.

Talk to a Tax Law Attorney now!

Life in Chapel Hill

Chapel Hill is located in Orange County, North Carolina. Chapel Hill is well-known because it is home to the University of North Carolina. It is also known because it helps comprise the "Research Triangle," which includes Chapel Hill, Durham, and Raleigh.

Interestingly, Chapel Hill is nicknamed "America's Foodiest Small Town" by Bon Appetit Magazine. Some popular restaurants are A Southern Season, Foster's Markeet, Mama's Dip's, Crook's Corner, Sunrise Biscuit Kitchen, Caffee Driade, and The Lantern Restaurant. Many of these places have been recognized by Martha Stewart, Rachael Ray, and the Food Network!

Chapel Hill is also home to many attorneys who help keep the legal force strong. This, in turn, helps residnets and local businesses because all their legal matters will be handled appropriately.

Some famous residents of Chapel Hill include Chris Stamey, Dean Smith, Jack Hogan, John Grisham, Hubert Davis, Ash Bowie, and K.A. Applegate.

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