Tax Lien Lawyers in Monahans

In Monahans, 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 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 established for the particular purpose of collecting taxes from a delinquent tax payer in Monahans, Texas.

Tax liens in Monahans, 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 Monahans, Texas

In Monahans, 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 usually give the taxpayer about 10 days to pay the demanded amount.

If the deadline passes without payment, most tax liens in Texas take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.

Nonetheless, if the federal government does not seek to enforce a tax lien in Monahans, Texas within 10 years of imposing it, federal law dictates that the lien automatically expires. This is effectively a statute of limitations on a tax lien, meant to encourage the federal government to collect its taxes in a reasonable period of time, and guarantee that property is not encumbered by a lien forever.

How Can a Monahans, 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 intricate to a layperson.

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