Tax Lien Lawyers in Whiteville

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

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

Tax Lien Procedure in Whiteville, North Carolina

The actual process of setting up a Whiteville, North Carolina tax lien is normally pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, normally by finding that the debtor owes a significant amount of back taxes.

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 normally give the taxpayer about 10 days to pay the demanded amount.

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

However, in Whiteville, 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 substantial 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 certain period of time.

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

If the federal government, or the government of North Carolina informs you that they intend to place a tax lien on your property, you will likely face some pretty convoluted and daunting legal issues.

Fortunately for you, tax lawyers in Whiteville, North Carolina are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.