Tax Lien Lawyers in Junction City

In Junction City, Oregon, 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 Junction City, Oregon 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 Junction City, Oregon 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 Junction City, Oregon

The actual process of setting up a Junction City, Oregon tax lien is typically pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, typically by finding that the debtor owes a significant amount of back taxes.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

If the deadline passes without payment, most tax liens in Oregon take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

But, under federal law, there are limits to how tax liens can be enforced in Junction City, Oregon, and elsewhere. Usually, 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 Junction City, Oregon Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of Oregon that a tax lien has been imposed on your property, some pretty intricate legal issues are necessarily involved.

Accordingly, it's important that you contact a tax attorney in Junction City, Oregon to ensure that whatever legal rights you have in this situation are protected. Your attorney will also be able to advise you on how to best deal with the situation.