Tax Lien Lawyers in Absecon

A "lien" in Absecon, New Jersey 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 various 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 Absecon, New Jersey tax authorities, to compile 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 considerable property on which a lien can be imposed. To get around this limitation, most tax liens in Absecon, New Jersey apply to after-acquired property (property acquired after the lien was created). Most other liens only apply to certain pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Absecon, New Jersey

Imposing a tax lien in Absecon, New Jersey is usually an uncomplicated process. Typically, 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.

They will then mail a document called a "notice and demand," which lets the taxpayer know that they owe money on their taxes, and that they have a specific period of time (normally 10 days) to pay what they owe.

If the back taxes are not paid before the deadline is up, the lien will normally take effect immediately, with no further action by the IRS or New Jersey tax agency, giving them all the rights in your property that the law authorizes.

Nonetheless, if the federal government does not seek to enforce a tax lien in Absecon, New Jersey 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 guarantee that property is not encumbered by a lien forever.

How Can a Absecon, New Jersey Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in New Jersey, you will probably have to deal with some fairly hard legal issues, which might be intricate to a layperson.

Thankfully, Absecon, New Jersey tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek qualified legal advice, to ensure that your legal rights are protected.