Tax Lien Lawyers in Somers Point

A "lien" in Somers Point, 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 numerous 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 Somers Point, New Jersey, a "tax lien" is simply a lien imposed by the government to collect back taxes from a citizen or corporation, when other methods for collecting have failed.

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

Tax Lien Procedure in Somers Point, New Jersey

The actual process of setting up a Somers Point, New Jersey tax lien is usually pretty simple. The agency responsible for collecting taxes must first decide that a tax lien is warranted, usually by finding that the debtor owes a significant amount of back taxes.

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 certain period of time (usually 10 days) to pay what they owe.

If the back taxes are not paid before the deadline is up, the lien will usually 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 allows.

Nonetheless, in Somers Point, 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 considerable 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 limited period of time.

How Can a Somers Point, 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 complicated legal issues are necessarily involved.

Luckily for you, tax lawyers in Somers Point, New Jersey are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.