Tax Lien Lawyers in Glen Allen

A "lien" in Glen Allen, Virginia is a type of security interest that one person or entity has in someone else's property. Typically, a lien is created by a court, to secure payment of a debt. A lien gives its holder many rights in the property that is subject to it, including the right to seize the funds if the property is sold, and priority access to the property, in front of other creditors.

A "tax lien" is simply a lien placed on a piece of property by the state or local government, to acquire the payment of back taxes. A tax lien in Glen Allen, Virginia can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.

Tax liens in Glen Allen, Virginia 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 Glen Allen, Virginia

Imposing a tax lien in Glen Allen, Virginia is typically an uncomplicated process. Generally, the tax authorities simply have to make a decision that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.

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 that time period expires, and the debtor still hasn't paid, the Virginia tax lien will go into effect automatically, with no additional action required.

Nonetheless, if the federal government does not seek to enforce a tax lien in Glen Allen, Virginia 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 Glen Allen, Virginia Tax Lien Lawyer Help?

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

Therefore, it's important that you hire a tax attorney in Glen Allen, Virginia 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.