Tax Lien Lawyers in Sebring

In Sebring, Ohio, a "lien" is specified as a property right that's authorized to a creditor against a piece of property owned by a debtor, for the purpose of collecting on the debt if the debtor is unwilling or unable to pay. A lien authorizes its owner to exercise some control over the property that is the subject of the lien. This includes the right to force a sale of the property, and to seize the resulting revenue, and priority access to the property ahead of other creditors.

A "tax lien" is simply a lien placed on a piece of property by the state or local government, to acquire the payment of back taxes. A tax lien in Sebring, Ohio can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

Tax liens in Sebring, Ohio 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 Sebring, Ohio

The process of imposing a tax lien on property in Sebring, Ohio is normally fairly simple. The initial step is for the IRS or local tax agency to decide that a person really owes back taxes, and that it is worth the effort to impose a lien.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are obligated 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 options in your property that any other lien holder would have.

Nonetheless, in Sebring, 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 considerable 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 certain period of time.

How Can a Sebring, 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 difficult and daunting legal issues.

Fortunately for you, tax lawyers in Sebring, Ohio 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.