Tax Lien Lawyers in Logan

A "lien" in Logan, 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 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 Logan, Ohio.

Of course, a tax lien in Logan, Ohio isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Obviously, this makes it quite a bit easier for the government to collect its taxes.

Tax Lien Procedure in Logan, Ohio

In Logan, Ohio, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer actually owes taxes that they haven't paid (that they're delinquent in their taxes).

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

If the deadline passes without payment, most tax liens in Ohio take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

However, in Logan, Ohio, and anywhere else in America, a tax lien only lasts for 10 years, and then it automatically expires. If the IRS fails to exercise the substantial rights that it has under a tax lien within that period of time, it is assumed that they never intend to do so, and the lien will cease to exist. This ensures that valuable property is only kept out of the economy for a limited period of time.

How Can a Logan, Ohio Tax Lien Lawyer Help?

If the federal government, or the government of Ohio informs you that they intend to place a tax lien on your property, you will likely face some pretty complicated and daunting legal issues.

Luckily for you, tax lawyers in Logan, Ohio are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.