Tax Lien Lawyers in Fountain Inn

In Fountain Inn, South Carolina, 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 authorizes 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 Fountain Inn, South Carolina tax authorities, to compile taxes that the property-owner has failed to pay.

However, like any other debt-collection method, a tax lien is worthless if the debtor has no considerable property on which a lien can be imposed. To get around this limitation, most tax liens in Fountain Inn, South Carolina apply to after-acquired property (property acquired after the lien was created). Most other liens only apply to certain pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Fountain Inn, South Carolina

Imposing a tax lien in Fountain Inn, South Carolina is usually an uncomplicated process. Typically, 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.

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 specific period of time (normally 10 days) to pay what they owe.

If that time period expires, and the debtor still hasn't paid, the South Carolina tax lien will go into effect automatically, with no additional action required.

Nonetheless, if the federal government does not seek to enforce a tax lien in Fountain Inn, South Carolina within 10 years of imposing it, federal law dictates that the lien automatically expires. This is effectively a statute of limitations on a tax lien, meant to encourage the federal government to collect its taxes in a reasonable period of time, and guarantee that property is not encumbered by a lien forever.

How Can a Fountain Inn, South Carolina Tax Lien Lawyer Help?

If the federal government, or the government of South Carolina informs you that they intend to place a tax lien on your property, you will likely face some pretty difficult and daunting legal issues.

Fortunately for you, tax lawyers in Fountain Inn, South Carolina are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.