Tax Lien Lawyers in Pinehurst

A "lien" in Pinehurst, 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 numerous 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 Pinehurst, North Carolina tax authorities, to collect taxes that the property-owner has failed to pay.

Tax Liens in Pinehurst, North Carolina are generally 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 basically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Pinehurst, North Carolina

Imposing a tax lien in Pinehurst, North Carolina is typically an uncomplicated process. Generally, 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.

At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands quick payment. It will usually give the taxpayer about 10 days to pay the demanded amount.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this occurs, the IRS or North Carolina tax agency will have significant rights against the taxpayer's property.

Nonetheless, in Pinehurst, North Carolina, 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 limited period of time.

How Can a Pinehurst, North Carolina Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in North Carolina, you are going to have to wade through some substantial and perplexing legal issues.

Therefore, if you think that any piece of property you own might become subject to a tax lien in Pinehurst, North Carolina, you should not delay to seek the advice of a competent tax attorney immediately.