Tax Lien Lawyers in Jourdanton
In Jourdanton, 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 simply a lien that is created for the specific purpose of collecting taxes from a delinquent tax payer in Jourdanton, Texas.
Tax Liens in Jourdanton, Texas are generally only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial to note that virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Jourdanton, Texas
The process of imposing a tax lien on property in Jourdanton, Texas is usually fairly simple. The first step is for the IRS or local tax agency to determine that a person actually owes back taxes, and that it is worth the effort to impose a lien.
They will then mail a document called a "notice and demand," which lets the taxpayer know that they owe money on their taxes, and that they have a certain period of time (usually 10 days) to pay what they owe.
If that time period expires, and the debtor still hasn't paid, the Texas tax lien will go into effect automatically, with no further action required.
But, these rights are limited. In Jourdanton, Texas, and everywhere else in the United States, the IRS has 10 years to enforce a tax lien. If they do nothing about it within 10 years, the lien expires. This rule exists for a few reasons. First, it encourages the IRS to act as quickly and efficiently as possible, and not "sit on its rights." Second, it acknowledges the fact that any encumbrance on a piece of property, such as a lien, makes the property less valuable. By ensuring that the lien will either be satisfied or expire within 10 years, this prevents property from being withheld from the stream of commerce indefinitely.
How Can a Jourdanton, Texas Tax Lien Lawyer Help?
If you are notified by the government that you owe back taxes in Texas, and that they are going to pursue a tax lien to collect their money, things can get very complicated, very quickly.
Fortunately, Jourdanton, Texas 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.