Tax Lien Lawyers in Cuyahoga Falls
A "lien" in Cuyahoga Falls, Ohio 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 Cuyahoga Falls, Ohio.
Tax liens in Cuyahoga Falls, Ohio 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 Cuyahoga Falls, Ohio
Imposing a tax lien in Cuyahoga Falls, Ohio is normally an uncomplicated process. Usually, the tax authorities simply have to make a determination that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.
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 this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this results, the IRS or Ohio tax agency will have substantial rights against the taxpayer's property.
However, if the federal government does not seek to enforce a tax lien in Cuyahoga Falls, Ohio 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 Cuyahoga Falls, Ohio Tax Lien Lawyer Help?
If you find yourself on the receiving end of a tax lien in Ohio, you are going to have to wade through some substantial and confusing legal concerns.
Luckily, Cuyahoga Falls, Ohio tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek skilled legal advice, to ensure that your legal rights are protected.