Tax Lien Lawyers in West Milwaukee

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

However, a tax lien in West Milwaukee, Wisconsin will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.

Tax Lien Procedure in West Milwaukee, Wisconsin

In West Milwaukee, Wisconsin, the procedure for imposing a tax lien is relatively simple. First, the IRS makes a decision that a person is delinquent in their tax requirement.

Then, the taxpayer is sent a letter with a "notice and demand," which informs the taxpayer that the IRS has decided that they owe back taxes, and that they have a short period of time (typically 10 days) to pay them without incurring a penalty.

If this deadline expires, and the debtor does not pay the taxes they owe, the lien will take effect automatically. When this results, the IRS or Wisconsin tax agency will have substantial rights against the taxpayer's property.

Nonetheless, if the federal government does not seek to enforce a tax lien in West Milwaukee, 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 West Milwaukee, Wisconsin Tax Lien Lawyer Help?

If the federal government, or the government of Wisconsin informs you that they intend to place a tax lien on your property, you will likely face some pretty confusing and daunting legal issues.

Therefore, it's important that you contact a tax attorney in West Milwaukee, 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.