Tax Lien Lawyers in Mineral Wells

In Mineral Wells, 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 Mineral Wells, Texas.

Tax liens in Mineral Wells, Texas are ineffective if the taxpayer doesn't have any property to place the lien on. However, practically any property, including that which the taxpayer acquires after the lien goes into effect, can be affected by a tax lien.

Tax Lien Procedure in Mineral Wells, Texas

In Mineral Wells, Texas, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

At this point, the taxpayer will receive a letter containing a "notice and demand," which, as the name suggests, gives notice that the recipient owes taxes, and demands quick payment. It will typically give the taxpayer about 10 days to pay the demanded amount.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this results, the IRS or Texas tax agency will have substantial rights against the taxpayer's property.

Nonetheless, in Mineral Wells, 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 considerable 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 narrow period of time.

How Can a Mineral Wells, Texas Tax Lien Lawyer Help?

If you find yourself on the receiving end of a tax lien in Texas, you are going to have to wade through some substantial and complicated legal concerns.

Thus, it should go without saying that if you are facing the prospect of your home or vehicle being slapped with a tax lien, you need to pursue the advice of a reliable tax lawyer in Mineral Wells, Texas as soon as you can.