Tax Lien Lawyers in Mayfield Heights
A "lien" in Mayfield Heights, 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 Mayfield Heights, Ohio.
Of course, a tax lien in Mayfield Heights, 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. Apparently, this makes it quite a bit easier for the government to collect its taxes.
Tax Lien Procedure in Mayfield Heights, Ohio
In Mayfield Heights, Ohio, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).
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 Ohio take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.
However, if the federal government does not seek to enforce a tax lien in Mayfield Heights, 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 Mayfield Heights, Ohio Tax Lien Lawyer Help?
If you are notified by the government that you owe back taxes in Ohio, and that they are going to pursue a tax lien to collect their money, things can get very intricate, quite quickly.
Accordingly, it's important that you contact a tax attorney in Mayfield Heights, Ohio 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.