Tax Lien Lawyers in Malverne

A "lien" in Malverne, 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 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.

A tax lien, then, is simply a lien that is formed for the particular purpose of collecting taxes from a delinquent tax payer in Malverne, New York.

Tax Liens in Malverne, New York are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial 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 Malverne, New York

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

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has decided that they owe back taxes, and that they have a short period of time (typically 10 days) to pay them without incurring a penalty.

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.

Nonetheless, if the federal government does not seek to enforce a tax lien in Malverne, New York 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 guarantee that property is not encumbered by a lien forever.

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

If you are notified by the government that you owe back taxes in New York, and that they are going to pursue a tax lien to collect their money, things can get very confusing, quite quickly.

Luckily, Malverne, New York 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.