Tax Lien Lawyers in Fayetteville

In Fayetteville, 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 Fayetteville, Tennessee.

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

In Fayetteville, 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, 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 the back taxes are not paid before the deadline is up, the lien will usually 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 allows.

However, if the federal government does not seek to enforce a tax lien in Fayetteville, 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 Fayetteville, 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 complex legal issues.

Fortunately, Fayetteville, Tennessee 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.