Tax Lien Lawyers in Elizabethton

In Elizabethton, 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 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 citizen or corporation in Elizabethton, Tennessee.

Tax liens in Elizabethton, Tennessee are ineffective if the taxpayer doesn't have any property to place the lien on. However, basically 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 Elizabethton, Tennessee

In Elizabethton, 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.

At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.

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.

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Elizabethton, Tennessee or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Elizabethton, Tennessee Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Tennessee, you are going to have to wade through some substantial and perplexing 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 reputable tax lawyer in Elizabethton, Tennessee as soon as you can.