Tax Lien Lawyers in Jamesburg

A "lien" in Jamesburg, 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 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.

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

Tax Liens in Jamesburg, New Jersey are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's critical to note that virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Jamesburg, New Jersey

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

At this point, they will send the taxpayer a written notice stating that they owe a particular amount of money in back taxes, and that they have a small window of time (frequently 10 days or less) to pay it.

If the back taxes are not paid before the deadline is up, the lien will typically 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 permits.

However, if the federal government does not seek to enforce a tax lien in Jamesburg, 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 ensure that property is not encumbered by a lien forever.

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

If you find yourself on the receiving end of a tax lien in New Jersey, you are going to have to wade through some substantial and confusing legal concerns.

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