Tax Lien Lawyers in Hudson

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

Tax Liens in Hudson, Wisconsin are usually 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 Hudson, Wisconsin

Imposing a tax lien in Hudson, Wisconsin is normally an uncomplicated process. Usually, 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.

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 given period of time (typically 10 days) to pay what they owe.

If the back taxes are not paid before the deadline is up, the lien will typically take effect immediately, with no further action by the IRS or Wisconsin tax agency, giving them all the rights in your property that the law permits.

Nonetheless, in Hudson, 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 narrow period of time.

How Can a Hudson, 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 confusing, quite quickly.

Therefore, if you think that any piece of property you own might become subject to a tax lien in Hudson, Wisconsin, you should not delay to seek the advice of a skilled tax attorney immediately.