Tax Lien Lawyers in Wantagh

A "lien" in Wantagh, 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 Wantagh, New York.

Tax liens in Wantagh, New York are ineffective if the taxpayer doesn't have any property to place the lien on. However, basically any property, including that which the taxpayer acquires after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Wantagh, New York

In Wantagh, New York, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

At this point, they will send the taxpayer a written notice stating that they owe a particular amount of money in back taxes, and that they have a small window of time (frequently 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 options in your property that any other lien holder would have.

Nonetheless, if the federal government does not seek to enforce a tax lien in Wantagh, 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 Wantagh, 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 challenging legal issues, which might be complicated to a layperson.

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