Tax Lien Lawyers in Spring Hill

In Spring Hill, 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 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 person or corporation in Spring Hill, Tennessee.

Tax liens in Spring Hill, 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 Spring Hill, Tennessee

The actual process of setting up a Spring Hill, Tennessee tax lien is normally pretty simple. The agency responsible for collecting taxes must first determine that a tax lien is warranted, normally by finding that the debtor owes a significant amount of back taxes.

Then, the IRS, or state tax authorities, send a "notice and demand," informing the taxpayer that they owe back taxes, and that they are required to pay their taxes within 10 days.

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

However, in Spring Hill, Tennessee, 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 certain period of time.

How Can a Spring Hill, 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 convoluted and daunting legal issues.

Accordingly, if you think that any piece of property you own might become subject to a tax lien in Spring Hill, Tennessee, you should not hesitate to seek the advice of a qualified tax attorney immediately.