Tax Lien Lawyers in Clintonville
A "lien" in Clintonville, 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 Clintonville, Wisconsin tax authorities, to compile taxes that the property-owner has failed to pay.
Tax Liens in Clintonville, Wisconsin are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's necessary to note that basically any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Clintonville, Wisconsin
The process of imposing a tax lien on property in Clintonville, 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 that time period expires, and the debtor still hasn't paid, the Wisconsin 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 Clintonville, Wisconsin 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 Clintonville, Wisconsin Tax Lien Lawyer Help?
If you find yourself on the receiving end of a tax lien in Wisconsin, you are going to have to wade through some substantial and intricate legal contentions.
Therefore, it's important that you retain a tax attorney in Clintonville, Wisconsin 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.