Tax Lien Lawyers in Somers
A "lien" in Somers, 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 Somers, New York.
Tax liens in Somers, New York are ineffective if the taxpayer doesn't have any property to place the lien on. However, virtually any property, including that which the taxpayer obtains after the lien goes into effect, can be affected by a tax lien.
Tax Lien Procedure in Somers, New York
In Somers, New York, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.
At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands immediate payment. It will typically give the taxpayer about 10 days to pay the demanded amount.
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 Somers, New York, and elsewhere. Usually, 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 Somers, New York Tax Lien Lawyer Help?
If you receive notice from the federal government, or the government of New York that a tax lien has been imposed on your property, some pretty intricate legal issues are necessarily involved.
Accordingly, it's important that you contact a tax attorney in Somers, New York to ensure that whatever legal rights you have in this situation are protected. Your attorney will also be able to advise you on how to best deal with the situation.