Tax Lien Lawyers in Marion
A "lien" in Marion, 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.
As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Marion, North Carolina tax authorities, to gather taxes that the property-owner has failed to pay.
Tax Liens in Marion, North Carolina are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's important 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 Marion, North Carolina
The process of imposing a tax lien on property in Marion, North Carolina is typically fairly simple. The initial step is for the IRS or local tax agency to decide that a person truly owes back taxes, and that it is worth the effort to impose a lien.
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 deadline passes without payment, most tax liens in North Carolina 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 Marion, North Carolina, 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 Marion, 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.
Therefore, it's important that you contact a tax attorney in Marion, North Carolina to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.