Tax Lien Lawyers in Pewaukee

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

Tax Liens in Pewaukee, Wisconsin are usually 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 Pewaukee, Wisconsin

The actual process of setting up a Pewaukee, Wisconsin tax lien is typically pretty simple. The agency responsible for collecting taxes must first decide that a tax lien is warranted, typically by finding that the debtor owes a significant amount of back taxes.

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 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 Pewaukee, 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 Pewaukee, 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.

Luckily, Pewaukee, Wisconsin tax attorneys can help. If you are facing the prospect of a tax lien, you should not hesitate to seek skilled legal advice, to ensure that your legal rights are protected.