Tax Lien Lawyers in Lancaster County
A "lien" in Lancaster County, Nebraska 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 many 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 Lancaster County, Nebraska tax authorities, to compile taxes that the property-owner has failed to pay.
Of course, a tax lien in Lancaster County, Nebraska isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Evidently, this makes it quite a bit easier for the government to collect its taxes.
Tax Lien Procedure in Lancaster County, Nebraska
The actual process of setting up a Lancaster County, Nebraska 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 Nebraska take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.
However, if the federal government does not seek to enforce a tax lien in Lancaster County, Nebraska 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 Lancaster County, Nebraska Tax Lien Lawyer Help?
If the federal government, or the government of Nebraska informs you that they intend to place a tax lien on your property, you will likely face some pretty convoluted and daunting legal issues.
Accordingly, it's important that you retain a tax attorney in Lancaster County, Nebraska to ensure that whatever legal rights you have in this situation are protected. Your attorney will also be able to advise you on how to best deal with the situation.