Tax Lien Lawyers in Cedarburg

A "lien" in Cedarburg, Wisconsin is a type of security interest that one person or entity has in someone else's property. Usually, 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.

As you might have gathered, a "tax lien" is simply a lien placed on property by the IRS or Cedarburg, Wisconsin tax authorities, to compile taxes that the property-owner has failed to pay.

Tax Liens in Cedarburg, Wisconsin are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's essential to note that practically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.

Tax Lien Procedure in Cedarburg, Wisconsin

The process of imposing a tax lien on property in Cedarburg, Wisconsin is normally fairly simple. The initial step is for the IRS or local tax agency to decide that a person really owes back taxes, and that it is worth the effort to impose a lien.

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 specific period of time (normally 10 days) to pay what they owe.

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

Nonetheless, in Cedarburg, Wisconsin, 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 certain period of time.

How Can a Cedarburg, Wisconsin Tax Lien Lawyer Help?

If you receive notice from the federal government, or the government of Wisconsin that a tax lien has been imposed on your property, some pretty complex legal issues are necessarily involved.

Therefore, 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 obtain the advice of a seasoned tax lawyer in Cedarburg, Wisconsin as soon as you can.