Tax Lien Lawyers in Castle Hills

In Castle Hills, Texas, 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 Castle Hills, Texas.

However, like any other debt-collection method, a tax lien is worthless if the debtor has no considerable property on which a lien can be imposed. To get around this limitation, most tax liens in Castle Hills, Texas apply to after-acquired property (property obtained after the lien was created). Most other liens only apply to certain pieces of property, or property that the debtor owned at the time the lien went into effect.

Tax Lien Procedure in Castle Hills, Texas

In Castle Hills, Texas, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer really owes taxes that they haven't paid (that they're delinquent in their 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 Texas take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.

However, in Castle Hills, Texas, 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 Castle Hills, Texas Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of Texas that a tax lien has been imposed on your property, some pretty complex legal issues are necessarily involved.

Fortunately for you, tax lawyers in Castle Hills, Texas are experts at dealing with matters such as these, and can make sure your rights are protected, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.