Tax Lien Lawyers in King Of Prussia

In King Of Prussia, Pennsylvania, 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.

As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or King Of Prussia, Pennsylvania tax authorities, to gather taxes that the property-owner has failed to pay.

Tax Liens in King Of Prussia, Pennsylvania are usually 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 virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in King Of Prussia, Pennsylvania

Imposing a tax lien in King Of Prussia, Pennsylvania is normally an uncomplicated process. Usually, the tax authorities simply have to make a determination 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, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands immediate payment. It will typically give the taxpayer about 10 days to pay the demanded amount.

If that time period expires, and the debtor still hasn't paid, the Pennsylvania tax lien will go into effect automatically, with no further action required.

But, under federal law, there are limits to how tax liens can be enforced in King Of Prussia, Pennsylvania, 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 King Of Prussia, 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 confusing legal concerns.

Luckily, King Of Prussia, Pennsylvania tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek skilled legal advice, to ensure that your legal rights are protected.