Tax Lien Lawyers in Amityville

A "lien" in Amityville, New York 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 Amityville, New York, 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 Amityville, New York are ineffective if the taxpayer doesn't have any property to place the lien on. However, practically any property, including that which the taxpayer acquires after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Amityville, New York

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

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are obligated to pay their taxes within 10 days.

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 York tax agency, giving them all the rights in your property that the law permits.

But, these rights are limited. In Amityville, New York, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Additionally, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By guaranteeing that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce forever.

How Can a Amityville, New York Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in New York, you will probably have to deal with some fairly challenging legal issues, which might be intricate to a layperson.

Thus, 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 pursue the advice of a reliable tax lawyer in Amityville, New York as soon as you can.