Tax Lien Lawyers in Monongahela
In Monongahela, 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 Monongahela, Pennsylvania tax authorities, to gather taxes that the property-owner has failed to pay.
Tax Liens in Monongahela, 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 Monongahela, Pennsylvania
The actual process of setting up a Monongahela, 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.
Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has determined 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 Pennsylvania tax agency, giving them all the rights in your property that the law permits.
However, in Monongahela, 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 Monongahela, Pennsylvania Tax Lien Lawyer Help?
If you are notified by the government that you owe back taxes in Pennsylvania, and that they are going to pursue a tax lien to collect their money, things can get very intricate, quite quickly.
Accordingly, if you think that any piece of property you own might become subject to a tax lien in Monongahela, Pennsylvania, you should not hesitate to seek the advice of a skilled tax attorney immediately.