Tax Lien Lawyers in Glassboro

A "lien" in Glassboro, 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 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.

In Glassboro, New Jersey, a "tax lien" is simply a lien imposed by the government to compile back taxes from a person or corporation, when other methods for collecting have failed.

Tax Liens in Glassboro, New Jersey are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's important 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 Glassboro, New Jersey

In Glassboro, New Jersey, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer really owes taxes that they haven't paid (that they're delinquent in their taxes).

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has determined that they owe back taxes, and that they have a short period of time (normally 10 days) to pay them without incurring a penalty.

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.

However, in Glassboro, New Jersey, 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 Glassboro, New Jersey Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of New Jersey that a tax lien has been imposed on your property, some pretty complex legal issues are necessarily involved.

Fortunately for you, tax lawyers in Glassboro, New Jersey 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.