Tax Lien Lawyers in Clinton
In Clinton, Oklahoma, 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 Clinton, Oklahoma can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.
Tax liens in Clinton, Oklahoma 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 Clinton, Oklahoma
Imposing a tax lien in Clinton, Oklahoma is usually an uncomplicated process. Typically, 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.
At this point, they will send the taxpayer a written notice stating that they owe a some amount of money in back taxes, and that they have a small window of time (commonly 10 days or less) to pay it.
If the back taxes are not paid before the deadline is up, the lien will normally take effect immediately, with no further action by the IRS or Oklahoma tax agency, giving them all the rights in your property that the law authorizes.
But, these rights are limited. In Clinton, Oklahoma, 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." Also, 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 Clinton, Oklahoma Tax Lien Lawyer Help?
If you receive notice from the federal government, or the government of Oklahoma that a tax lien has been imposed on your property, some pretty complex legal issues are necessarily involved.
Therefore, it's important that you retain a tax attorney in Clinton, Oklahoma 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.