Tax Lien Lawyers in Marlboro

A "lien" in Marlboro, 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 Marlboro, 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 Marlboro, 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 virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Marlboro, New Jersey

The process of imposing a tax lien on property in Marlboro, New Jersey is normally fairly simple. The first step is for the IRS or local tax agency to determine that a person really owes back taxes, and that it is worth the effort to impose a lien.

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 this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in New Jersey have all the rights in the taxpayer's property that any other lien holder would have, including priority over competing creditors.

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

If the federal government, or the government of New Jersey informs you that they intend to place a tax lien on your property, you will likely face some pretty convoluted and daunting legal issues.

Therefore, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to obtain the advice of a brilliant tax lawyer in Marlboro, New Jersey as soon as you can.