Tax Lien Lawyers in Suffern

A "lien" in Suffern, 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 several 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 appointed for the specific purpose of collecting taxes from a delinquent tax payer in Suffern, New York.

Tax liens in Suffern, New York are ineffective if the taxpayer doesn't have any property to place the lien on. However, essentially 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 Suffern, New York

In Suffern, 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.

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

If the back taxes are not paid before the deadline is up, the lien will usually 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 allows.

However, if the federal government does not seek to enforce a tax lien in Suffern, 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 ensure that property is not encumbered by a lien forever.

How Can a Suffern, 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 complex legal issues.

Fortunately, Suffern, New York tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek competent legal advice, to ensure that your legal rights are protected.