Tax Lien Lawyers in Kirkland
A "lien" in Kirkland, Washington is a type of security interest that one person or entity has in someone else's property. Normally, 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 proceeds 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 secure the payment of back taxes. A tax lien in Kirkland, Washington can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.
Of course, a tax lien in Kirkland, Washington isn't worth much more than the paper it's printed on if the debtor doesn't own any property of value, on which a lien could be placed. However, a tax lien applies to property that the taxpayer obtains even after the lien is created. Apparently, this makes it quite a bit easier for the government to collect its taxes.
Tax Lien Procedure in Kirkland, Washington
In Kirkland, Washington, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities determine that a taxpayer truly owes taxes that they haven't paid (that they're delinquent in their taxes).
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 the deadline passes without payment, most tax liens in Washington take effect automatically, giving the tax collectors all of the rights in your property that any other lien holder would have.
However, if the federal government does not seek to enforce a tax lien in Kirkland, Washington 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 ensure that property is not encumbered by a lien forever.
How Can a Kirkland, Washington Tax Lien Lawyer Help?
If the federal government, or the government of Washington informs you that they intend to place a tax lien on your property, you will likely face some pretty intricate and daunting legal issues.
Accordingly, it's important that you contact a tax attorney in Kirkland, Washington to ensure that whatever legal rights you have in this situation are protected. Your attorney will also be able to advise you on how to best deal with the situation.