Ponte Vedra Tax Lien Lawyer

Ponte Vedra Tax Lien Attorney

If you have unpaid taxes for a significant period of time and have ignored attempts by the IRS to settle the debt, you may face several IRS tactics, including a tax lien. A tax lien can have much wider consequences than some taxpayers realize. If you have received notice of a tax lien on your property and assets, you need a Ponte Vedra tax lien lawyer on your side.

A tax lien can affect your finances and credit, result in the loss of your home or business, and prevent you from selling or refinancing it in the meantime. A tax lien lawyer can answer all of your questions and offer solutions for your individual situation.

Tax Solutions for Tax Liens in Ponte Vedra

The team at Tax Smith Tax Attorneys has decades of combined experience in tax law and resolving tax debt for businesses and individuals. It is crucial to act quickly when the IRS takes action through a lien, bank levy, or garnishment. These actions can cause you significant financial instability, and our attorneys can help negotiate on your behalf to settle your debt.

We understand that taxes can be very complicated, and we want to provide you with straightforward and compassionate legal care. By giving you the knowledge you need, we help you make informed decisions regarding the settlement of your tax debt and resolving your lien. We use our years of experience to find the ideal solution for your unique circumstances.

Understanding Tax Liens

A tax lien is a claim on your property when you owe taxes. This is not the state or federal agency’s first step when you do not pay your taxes. A tax lien may be filed after assessing your tax debt and providing you with notice if you continue to fail or refuse to pay the debt. A lien is a governmental claim on the property, which is public notice to creditors.

A tax lien means that the government has the ability to seize assets to pay back your tax debt. If a lien is on your home or business, the lien or the property itself could be sold to settle your debts. Tax liens could be attached to all of your assets. If a tax lien certificate is sold at auction, then the individual or group who holds the certificate can sell the tax deed in two years. This will then transfer ownership of the property to that individual or group.

The Impact of a Tax Lien

Many people do not take tax liens as seriously as tax levies, as the consequences are less immediate. However, they can result in the loss of your property and other assets, just like tax levies. It’s important not to ignore this serious situation and work with an attorney to resolve the situation.

The consequences of a tax lien include:

• Impact on your business profits and income if you own a business
• The lien is public information that creditors and lenders can see, meaning the lien can affect your credit
• Because a lien is public information, scammers can use the information that you owe the IRS money to defraud you of financial and other personal information
• A lien may impact your employment and prevent you from entering certain fields
• A lien prevents you from buying or selling assets without the IRS being involved, which can severely affect your financial and asset gains
• A lien may continue even after filing for bankruptcy

The sooner you work to resolve a tax lien, the less of an impact it is likely to have on your life. A skilled attorney in Ponte Vedra can help you find solutions that you qualify for, such as a payment plan or an offer in compromise.

FAQs for Tax Lien Attorneys

Q: How Long Does a Tax Lien Last in Florida?

A: The majority of tax liens in Florida last for 20 years after the date the tax was assessed, became delinquent, or had a tax warrant filed, whichever was last. Once this time limit expires, no actions can be taken to collect the owed tax. However, the IRS or other governmental bodies can choose to renew the lien, extending the amount of time before it expires. To determine what can be done about your lien in a faster period of time, you want to work with a skilled tax attorney.

Q: What Is the Tax Lien Redemption Period in Florida?

A: The purchaser of the lien must wait two years after the tax certificate is sold to apply for a tax deed. So, for two years after the tax lien sale, an individual may be able to redeem the property. After seven years from the creation of the tax certificate, if no proceedings are enacted, the certificate expires. Proceedings include filing for bankruptcy, applying for a tax deed, or other legal or administrative applications.

Q: What Is the Percentage of a Tax Lien in Florida?

A: A tax certificate for a tax lien on real property has a maximum interest rate in Florida of 18%, although it may be lower. This interest rate applies from the date the lien was assigned until the tax certificate is sold. There is a minimum 3% charge for the taxes paid before the tax certificate is sold. Each tax certificate has its own individual cost listed.

Q: How Do I Get a Lien Removed in Florida?

A: The most effective way to remove a lien on your property is to pay off your debt. However, this is not the only option available. By working with a tax debt settlement attorney, you can determine other options such as penalty abatement, an installation agreement, an offer in compromise, and others.

You may be able to remove your tax debt with a lower settlement in rare cases or reduce your penalties. This would enable you to pay back your debt and potentially avoid IRS tactics like liens or prevent the property from being seized.

Tax Smith Tax Attorneys: Resolving Your Tax Lien in Ponte Vedra

Facing actions by the IRS or state government can be incredibly overwhelming. Addressing the lien as quickly as possible with the support of a qualified attorney can help the process go more smoothly and successfully. Contact Tax Smith Tax Attorneys, and we can set up a consultation.