Tax Lien Lawyers in Mount Sinai

A "lien" in Mount Sinai, 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 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.

A tax lien, then, is simply a lien that is created for the specific purpose of collecting taxes from a delinquent tax payer in Mount Sinai, New York.

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

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

At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.

If the deadline passes without payment, most tax liens in New York take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

But, under federal law, there are limits to how tax liens can be enforced in Mount Sinai, New York, and elsewhere. Generally, the IRS has 10 years to try and enforce a tax lien. If no effort is made to enforce a tax lien for 10 years, the lien is automatically lifted, and the lien holder loses all rights in it. This rule exists to ensure that the government collects its taxes in a reasonable time period, and it prevents valuable property (which could otherwise be contributing to the economy by being bought and sold) is not laded with a lien for an indefinite period of time.

How Can a Mount Sinai, 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 difficult legal issues, which might be confusing to a layperson.

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