Tax Lien Lawyers in Mechanicsburg
In Mechanicsburg, 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 Mechanicsburg, Pennsylvania tax authorities, to gather taxes that the property-owner has failed to pay.
Tax Liens in Mechanicsburg, Pennsylvania are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's necessary 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 Mechanicsburg, Pennsylvania
The actual process of setting up a Mechanicsburg, Pennsylvania 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.
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 the deadline passes without payment, most tax liens in Pennsylvania take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.
However, in Mechanicsburg, Pennsylvania, and anywhere else in America, a tax lien only lasts for 10 years, and then it automatically expires. If the IRS fails to exercise the substantial rights that it has under a tax lien within that period of time, it is assumed that they never intend to do so, and the lien will cease to exist. This ensures that valuable property is only kept out of the economy for a narrow period of time.
How Can a Mechanicsburg, Pennsylvania Tax Lien Lawyer Help?
If the federal government, or the government of Pennsylvania informs you that they intend to place a tax lien on your property, you will likely face some pretty intricate and daunting legal issues.
Thankfully for you, tax lawyers in Mechanicsburg, Pennsylvania 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.