Tax Lien Lawyers in Pine Hill

A "lien" in Pine Hill, 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.

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

Tax Liens in Pine Hill, 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 practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Pine Hill, New Jersey

The process of imposing a tax lien on property in Pine Hill, New Jersey is typically fairly simple. The initial step is for the IRS or local tax agency to decide that a person truly owes back taxes, and that it is worth the effort to impose a lien.

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 this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this results, the IRS or New Jersey tax agency will have substantial rights against the taxpayer's property.

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Pine Hill, New Jersey or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Pine Hill, 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 complicated legal concerns.

Therefore, it's important that you contact a tax attorney in Pine Hill, New Jersey to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.