Tax Lien Lawyers in Lacy Lakeview

In Lacy Lakeview, Texas, a "lien" is specified as a property right that's authorized 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 permits 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 established for the particular purpose of collecting taxes from a delinquent tax payer in Lacy Lakeview, Texas.

Tax Liens in Lacy Lakeview, Texas are usually 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 practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Lacy Lakeview, Texas

The process of imposing a tax lien on property in Lacy Lakeview, Texas is typically fairly simple. The initial step is for the IRS or local tax agency to decide that a person truly owes back taxes, and that it is worth the effort to impose a lien.

At this point, they will send the taxpayer a written notice stating that they owe a particular amount of money in back taxes, and that they have a small window of time (frequently 10 days or less) to pay it.

If this 10-day period expires without payment, the tax lien arises automatically. Once this happens, the tax authorities in Texas have all the options in the taxpayer's property that any other lien holder would have, containing priority over competing creditors.

Nonetheless, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Lacy Lakeview, Texas or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Lacy Lakeview, 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 confusing, quite quickly.

Therefore, it's important that you contact a tax attorney in Lacy Lakeview, Texas to ensure that whatever legal rights you have in this situation are defended. Your attorney will also be able to advise you on how to best deal with the situation.