Tax Lien Lawyers in North Babylon

A "lien" in North Babylon, 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 North Babylon, New York.

Tax Liens in North Babylon, 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 critical 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 North Babylon, New York

The process of imposing a tax lien on property in North Babylon, New York 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.

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 given period of time (typically 10 days) to pay what they owe.

If that time period expires, and the debtor still hasn't paid, the New York tax lien will go into effect automatically, with no additional action required.

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 North Babylon, New York 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 North Babylon, New York Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in New York, you are going to have to wade through some substantial and complicated legal concerns.

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 North Babylon, New York as soon as you can.