Tax Lien Lawyers in St. Marys
In St. Marys, 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 St. Marys, Pennsylvania tax authorities, to gather taxes that the property-owner has failed to pay.
However, a tax lien in St. Marys, 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 St. Marys, Pennsylvania
The actual process of setting up a St. Marys, 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.
They will then mail a document called a "notice and demand," which lets the taxpayer know that they owe money on their taxes, and that they have a given period of time (typically 10 days) to pay what they owe.
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 St. Marys, 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 St. Marys, Pennsylvania Tax Lien Lawyer Help?
If you receive notice from the federal government, or the government of Pennsylvania that a tax lien has been imposed on your property, some pretty intricate legal issues are necessarily involved.
Thankfully for you, tax lawyers in St. Marys, 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.