Tax Lien Lawyers in Plum

In Plum, 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 Plum, Pennsylvania tax authorities, to collect taxes that the property-owner has failed to pay.

However, a tax lien in Plum, 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. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Plum, Pennsylvania

Imposing a tax lien in Plum, Pennsylvania is typically an uncomplicated process. Generally, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are obligated to pay their taxes within 10 days.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this occurs, the IRS or Pennsylvania tax agency will have significant rights against the taxpayer's property.

Nonetheless, in Plum, 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 considerable 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 limited period of time.

How Can a Plum, 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.

So, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to seek the advice of a reputable tax lawyer in Plum, Pennsylvania as soon as you can.