Tax Lien Lawyers in Diboll
In Diboll, 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 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 Diboll, Texas.
However, like any other debt-collection method, a tax lien is worthless if the debtor has no significant property on which a lien can be imposed. To get around this limitation, most tax liens in Diboll, Texas apply to after-acquired property (property obtained after the lien was created). Most other liens only apply to specific pieces of property, or property that the debtor owned at the time the lien went into effect.
Tax Lien Procedure in Diboll, Texas
Imposing a tax lien in Diboll, Texas is typically an uncomplicated process. Generally, the tax authorities simply have to make a determination that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.
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 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 Texas tax agency, giving them all the rights in your property that the law allows.
But, under federal law, there are limits to how tax liens can be enforced in Diboll, Texas, and elsewhere. Generally, the IRS has 10 years to try and enforce a tax lien. If no effort is made to enforce a tax lien for 10 years, the lien is automatically lifted, and the lien holder loses all rights in it. This rule exists to ensure that the government collects its taxes in a reasonable time period, and it prevents valuable property (which could otherwise be contributing to the economy by being bought and sold) is not laded with a lien for an indefinite period of time.
How Can a Diboll, Texas Tax Lien Lawyer Help?
If you end up having a tax lien imposed on your property in Texas, you will probably have to deal with some fairly difficult legal issues, which might be complex to a layperson.
Luckily for you, tax lawyers in Diboll, 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.