Tax Lien Lawyers in Waterville

In Waterville, Ohio, a "lien" is defined as a property right that's granted 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 permits 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 secure the payment of back taxes. A tax lien in Waterville, Ohio can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

Tax liens in Waterville, 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 Waterville, Ohio

The process of imposing a tax lien on property in Waterville, Ohio is typically fairly simple. The first step is for the IRS or local tax agency to determine that a person truly owes back taxes, and that it is worth the effort to impose a lien.

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 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 Waterville, 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 Waterville, Ohio Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in Ohio, you will probably have to deal with some fairly challenging legal issues, which might be confusing to a layperson.

Luckily, Waterville, 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.