Tax Lien Lawyers in Sallisaw

In Sallisaw, Oklahoma, 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 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 secure the payment of back taxes. A tax lien in Sallisaw, Oklahoma can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

However, a tax lien in Sallisaw, Oklahoma will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. However, a tax lien can be applied to property that the taxpayer acquires after the lien goes into effect.

Tax Lien Procedure in Sallisaw, Oklahoma

In Sallisaw, Oklahoma, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer actually owes taxes that they haven't paid (that they're delinquent in their taxes).

At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.

If this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in Oklahoma have all the rights in the taxpayer's property that any other lien holder would have, including priority over competing creditors.

But, under federal law, there are limits to how tax liens can be enforced in Sallisaw, Oklahoma, and elsewhere. Generally, the IRS has 10 years to try and enforce a tax lien. If no effort is made to enforce a tax lien for 10 years, the lien is automatically lifted, and the lien holder loses all rights in it. This rule exists to ensure that the government collects its taxes in a reasonable time period, and it prevents valuable property (which could otherwise be contributing to the economy by being bought and sold) is not laded with a lien for an indefinite period of time.

How Can a Sallisaw, Oklahoma Tax Lien Lawyer Help?

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

Luckily for you, tax lawyers in Sallisaw, Oklahoma are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.