Tax Lien Lawyers in Whitehall
In Whitehall, 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 allows 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 Whitehall, Ohio can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.
Tax liens in Whitehall, Ohio are ineffective if the taxpayer doesn't have any property to place the lien on. However, practically 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 Whitehall, Ohio
Imposing a tax lien in Whitehall, Ohio is typically an uncomplicated process. Generally, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.
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 back taxes are not paid before the deadline is up, the lien will usually take effect immediately, with no further action by the IRS or Ohio tax agency, giving them all the rights in your property that the law allows.
But, these rights are limited. In Whitehall, Ohio, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Additionally, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By guaranteeing that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce forever.
How Can a Whitehall, 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 perplexing, very quickly.
Therefore, it's important that you hire a tax attorney in Whitehall, Ohio to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.