Tax Lien Lawyers in Union
In Union, 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 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.
A "tax lien," then, is a lien held by the government to collect a tax-related debt from a private entity, such as a citizen or corporation in Union, South Carolina.
Tax Liens in Union, South Carolina are usually only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial to note that practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Union, South Carolina
In Union, South Carolina, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).
At this point, they will send the taxpayer a written notice stating that they owe a particular amount of money in back taxes, and that they have a small window of time (frequently 10 days or less) to pay it.
If the deadline passes without payment, most tax liens in South Carolina take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.
Nonetheless, if the federal government does not seek to enforce a tax lien in Union, 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 Union, South Carolina Tax Lien Lawyer Help?
If you are notified by the government that you owe back taxes in South Carolina, and that they are going to pursue a tax lien to collect their money, things can get very confusing, quite quickly.
Thankfully for you, tax lawyers in Union, 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.