Tax Lien in Greenwood, South Carolina

Find the right Tax Lien attorney in Greenwood, SC

Tax Lien Lawyers in Greenwood

In Greenwood, South Carolina, 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 Greenwood, South Carolina tax authorities, to collect 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 significant property on which a lien can be imposed. To get around this limitation, most tax liens in Greenwood, South Carolina apply to after-acquired property (property obtained after the lien was created). Most other liens only apply to specific pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Greenwood, South Carolina

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

At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands immediate payment. It will usually give the taxpayer about 10 days to pay the demanded amount.

If this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in South Carolina have all the rights in the taxpayer's property that any other lien holder would have, including priority over competing creditors.

But, these rights are limited. In Greenwood, South Carolina, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Second, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By ensuring that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce indefinitely.

How Can a Greenwood, 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 complicated and daunting 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 good tax lawyer in Greenwood, South Carolina as soon as you can.

Talk to a Tax Law Attorney now!

Life in Greenwood

Greenwood is a city in Greenwood County, South Carolina. It is the county seat of Greenwood County, and has a population of about 23,000 people. Greenwood, South Carolina is home to the annual Festival of Flowers, which happens in early June. The festival is sponsored by a local company, Park Seed Corporation, which is one of the largest gardening concerns in the world. The festival shows of the abundant flowers of the area, as well as flower arrangements. Furthermore, it features jazz concerts, airplane flights for children, food from around the globe, a dog show, and a classic car show.

In July, Greenwood hosts the Festival of Discovery, which focuses on the folklore, culture, and traditions of the region, and features cookoffs, music, and other events.

Greenwood is home to several large corporations, which are major employers for the area, including Fujifilm, Milliken Textiles, andmajor offices of PepsiCo.

Given the diversity of the business community in Greenwood, South Carolina, it should be apparent that there are plenty of skilled and sophisticated Greenwood, South Carolina attorneys who can handle any legal problem that you might be facing.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Joel C.
Joel C.

Tax Law

Davidson, TN

Edwin L.
Edwin L.

Tax Law

Fayette, TN

Tax Defense N.
Tax Defense N.

Tax Law

Ohio, TN