Tax Lien Lawyers in Cookeville

In Cookeville, Tennessee, 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.

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 Cookeville, Tennessee.

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

Tax Lien Procedure in Cookeville, Tennessee

In Cookeville, Tennessee, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has decided that they owe back taxes, and that they have a short period of time (normally 10 days) to pay them without incurring a penalty.

If the back taxes are not paid before the deadline is up, the lien will normally take effect immediately, with no further action by the IRS or Tennessee tax agency, giving them all the rights in your property that the law authorizes.

Nonetheless, if the federal government does not seek to enforce a tax lien in Cookeville, 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 guarantee that property is not encumbered by a lien forever.

How Can a Cookeville, Tennessee Tax Lien Lawyer Help?

If you end up having a tax lien imposed on your property in Tennessee, you will probably have to deal with some fairly hard legal issues, which might be intricate to a layperson.

Thankfully, Cookeville, Tennessee tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek qualified legal advice, to ensure that your legal rights are protected.