Tax Lien Lawyers in Pleasant Garden
A "lien" in Pleasant Garden, 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 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.
As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Pleasant Garden, North Carolina tax authorities, to gather taxes that the property-owner has failed to pay.
Tax Liens in Pleasant Garden, 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 essential to note that essentially any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Pleasant Garden, North Carolina
Imposing a tax lien in Pleasant Garden, North Carolina is normally an uncomplicated process. Usually, the tax authorities simply have to make a determination 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 immediate payment. It will typically give the taxpayer about 10 days to pay the demanded amount.
If that time period expires, and the debtor still hasn't paid, the North Carolina tax lien will go into effect automatically, with no further action required.
However, if the federal government does not seek to enforce a tax lien in Pleasant Garden, North Carolina within 10 years of imposing it, federal law dictates that the lien automatically expires. This is effectively a statute of limitations on a tax lien, meant to encourage the federal government to collect its taxes in a reasonable period of time, and ensure that property is not encumbered by a lien forever.
How Can a Pleasant Garden, 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 confusing legal concerns.
Luckily, Pleasant Garden, North Carolina tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek skilled legal advice, to ensure that your legal rights are protected.