Tax Lien Lawyers in Plattsmouth

A "lien" in Plattsmouth, 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 Plattsmouth, Nebraska tax authorities, to collect taxes that the property-owner has failed to pay.

However, like any other debt-collection method, a tax lien is worthless if the debtor has no significant property on which a lien can be imposed. To get around this limitation, most tax liens in Plattsmouth, Nebraska apply to after-acquired property (property obtained after the lien was created). Most other liens only apply to specific pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Plattsmouth, Nebraska

In Plattsmouth, Nebraska, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.

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 usually 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, in Plattsmouth, Nebraska, 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 limited period of time.

How Can a Plattsmouth, Nebraska Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Nebraska, and that they are going to pursue a tax lien to collect their money, things can get very complicated, very quickly.

Fortunately, Plattsmouth, Nebraska tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek competent legal advice, to ensure that your legal rights are protected.