Tax Lien Lawyers in Atoka

In Atoka, Tennessee, 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 Atoka, Tennessee.

Tax liens in Atoka, Tennessee are ineffective if the taxpayer doesn't have any property to place the lien on. However, virtually any property, including that which the taxpayer obtains after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Atoka, Tennessee

In Atoka, Tennessee, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a determination that a person is delinquent in their tax obligation.

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 deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this occurs, the IRS or Tennessee tax agency will have significant rights against the taxpayer's property.

However, if the federal government does not seek to enforce a tax lien in Atoka, Tennessee 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 ensure that property is not encumbered by a lien forever.

How Can a Atoka, Tennessee Tax Lien Lawyer Help?

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

Accordingly, it's important that you hire a tax attorney in Atoka, Tennessee to ensure that whatever legal rights you have in this situation are protected. Your attorney will also be able to advise you on how to best deal with the situation.