Tax Lien Lawyers in Pierre

In Pierre, South Dakota, 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.

A "tax lien," then, is a lien held by the government to collect a tax-related debt from a private entity, such as a person or corporation in Pierre, South Dakota.

Tax Liens in Pierre, South Dakota are generally 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 essentially any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Pierre, South Dakota

The actual process of setting up a Pierre, South Dakota tax lien is usually pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, usually 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 certain period of time (usually 10 days) to pay what they owe.

If the deadline passes without payment, most tax liens in South Dakota take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

However, in Pierre, South Dakota, 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 limited period of time.

How Can a Pierre, South Dakota Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in South Dakota, and that they are going to pursue a tax lien to collect their money, things can get very complicated, very quickly.

Fortunately, Pierre, South Dakota tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek competent legal advice, to ensure that your legal rights are protected.