Tax Lien Lawyers in Greendale

A "lien" in Greendale, 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 Greendale, Wisconsin tax authorities, to compile taxes that the property-owner has failed to pay.

Tax Liens in Greendale, Wisconsin are typically only effective if the taxpayer has a significant amount of property on which a lien can be placed. However, it's crucial 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 Greendale, Wisconsin

The process of imposing a tax lien on property in Greendale, 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.

At this point, they will send the taxpayer a written notice stating that they owe a some amount of money in back taxes, and that they have a small window of time (commonly 10 days or less) to pay it.

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, there are limits to how and when a tax lien can be enforced, at least under federal law. The IRS has 10 years to enforce a tax lien in Greendale, Wisconsin or anywhere else in the U.S. If it never bothers to take action to seize property that's subject to a tax lien, the lien simply ceases to exist after 10 years. This rule is in place to ensure that the government does not sit on its rights, and to keep potentially-valuable property from being encumbered forever. Essentially, it creates a measure of certainty for both parties.

How Can a Greendale, Wisconsin Tax Lien Lawyer Help?

If you are notified by the government that you owe back taxes in Wisconsin, and that they are going to pursue a tax lien to collect their money, things can get very difficult, extremely quickly.

Fortunately for you, tax lawyers in Greendale, Wisconsin are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.