Tax Lien Lawyers in Stephenville

In Stephenville, 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 Stephenville, Texas.

However, a tax lien in Stephenville, Texas will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in Stephenville, Texas

In Stephenville, 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.

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 given period of time (typically 10 days) to pay what they owe.

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 Stephenville, 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 Stephenville, Texas Tax Lien Lawyer Help?

If the federal government, or the government of Texas informs you that they intend to place a tax lien on your property, you will likely face some pretty confusing and daunting legal issues.

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 Stephenville, Texas as soon as you can.