Tax Lien Lawyers in North Braddock
In North Braddock, 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 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 North Braddock, Pennsylvania tax authorities, to collect taxes that the property-owner has failed to pay.
However, a tax lien in North Braddock, Pennsylvania 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. However, a tax lien can be applied to property that the taxpayer acquires after the lien goes into effect.
Tax Lien Procedure in North Braddock, Pennsylvania
In North Braddock, Pennsylvania, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.
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 (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 further action required.
But, under federal law, there are limits to how tax liens can be enforced in North Braddock, 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 North Braddock, 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 complicated and daunting legal issues.
Accordingly, if you think that any piece of property you own might become subject to a tax lien in North Braddock, Pennsylvania, you should not hesitate to seek the advice of a competent tax attorney immediately.