Tax Lien Lawyers in Talent

In Talent, Oregon, 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 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 acquire the payment of back taxes. A tax lien in Talent, 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 Talent, 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. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Talent, Oregon

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

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has decided that they owe back taxes, and that they have a short period of time (typically 10 days) to pay them without incurring a penalty.

If the back taxes are not paid before the deadline is up, the lien will typically take effect immediately, with no further action by the IRS or Oregon tax agency, giving them all the rights in your property that the law permits.

But, under federal law, there are limits to how tax liens can be enforced in Talent, 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 Talent, 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.

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