Tax Lien Lawyers in Mukwonago
A "lien" in Mukwonago, 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 proceeds 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 Mukwonago, Wisconsin tax authorities, to compile taxes that the property-owner has failed to pay.
Tax Liens in Mukwonago, 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 virtually any property, including that which is acquired after the lien is imposed, can be subject to a tax lien.
Tax Lien Procedure in Mukwonago, Wisconsin
Imposing a tax lien in Mukwonago, Wisconsin is usually an uncomplicated process. Typically, the tax authorities simply have to make a determination that the taxpayer is delinquent in their taxes, and that imposing and enforcing a tax lien will actually be worth the effort.
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 back taxes are not paid before the deadline is up, the lien will normally 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 authorizes.
However, if the federal government does not seek to enforce a tax lien in Mukwonago, 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 ensure that property is not encumbered by a lien forever.
How Can a Mukwonago, 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 difficult legal contentions.
Thankfully, Mukwonago, Wisconsin tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek qualified legal advice, to ensure that your legal rights are protected.