Tax Lien Lawyers in Glenolden
In Glenolden, Pennsylvania, 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.
As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Glenolden, Pennsylvania tax authorities, to collect taxes that the property-owner has failed to pay.
Tax Liens in Glenolden, Pennsylvania are generally only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's critical to note that practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Glenolden, Pennsylvania
The process of imposing a tax lien on property in Glenolden, Pennsylvania is usually fairly simple. The initial step is for the IRS or local tax agency to decide that a person actually owes back taxes, and that it is worth the effort to impose a lien.
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 (usually 10 days) to pay them without incurring a penalty.
If that time period expires, and the debtor still hasn't paid, the Pennsylvania tax lien will go into effect automatically, with no additional action required.
But, under federal law, there are limits to how tax liens can be enforced in Glenolden, Pennsylvania, 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 Glenolden, Pennsylvania Tax Lien Lawyer Help?
If you find yourself on the receiving end of a tax lien in Pennsylvania, you are going to have to wade through some substantial and perplexing legal issues.
Therefore, it's important that you hire a tax attorney in Glenolden, Pennsylvania 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.