Tampa Tax Lien Lawyer

Tampa Tax Lien Attorney

Many unexpected life situations can lead to unpaid taxes. When you do not address back taxes, the tax agency that is owed these taxes can collect them with a tax lien. When the government places a tax lien on your property, it establishes a legal claim against it. This can cause serious financial consequences for you, and you could eventually lose the property. IRS tax lawyers in Tampa, FL can help you resolve your debt and have the lien removed.

When the Internal Revenue Service (IRS) places a lien on your property, it’s crucial not to ignore the situation. If you do not have the financial means to pay off your debt, you should work with an attorney to explore alternative methods to resolve a lien. An attorney can help you understand your options, negotiate with creditors, and develop a strategic plan to protect your assets while effectively addressing your financial obligations.

Negotiating Solutions for Tampa Tax Liens

The team at Tax Smith Tax Attorneys offers reliable legal advice based on decades of knowledge and experience with state and federal tax codes. A tax lien can be incredibly stressful to deal with and we want to help you effectively address the issue. If you are unable to pay your tax debt, our team can work with you to review options that can provide additional time to settle your taxes, potentially pausing actions such as liens.

Ignoring the issue of a tax lien can make your situation worse. Our firm can walk you through the process of resolving a lien and regaining control of your financial situation. We know tax law can be confusing, and we want to help you make informed decisions regarding your tax liability.

Understanding a Tax Lien

Usually, a tax agency in Tampa will not start with a tax lien if you have unpaid taxes. They will first send notices to request payment. If there is no response to repay the debt or negotiate, the agency may take further actions, including placing a lien on some or all of your property.

A lien on your property is public information available to creditors, solicitors, and even scammers. Because of the governmental claim, you cannot sell the property with the attached lien, nor can you refinance it. If you do not address the debt or the lien, it could eventually result in the seizure and sale of your property to cover your debts.

What Are the Effects of a Tax Lien?

Tax liens do not threaten immediate seizure like a tax levy, so some taxpayers do not consider them urgent to address. It’s important to realize that tax liens on your property can have significant negative consequences on your life and may result in the loss of that property in the future. Potential consequences can include:

• Restrictions from employment in certain fields
• Harm to your credit score
• Inability to obtain credit
• Negative impact on your business profits and reputation
• Loss of profits from assets sales to a tax agency
• Increased risk of scams
• Restrictions on buying and selling assets without tax agency interference
• Impact on your assets even if you file for bankruptcy

Addressing a tax lien as soon as possible can limit the impact it has on your life. A skilled tax lien attorney can help you negotiate with the tax agency and protect your financial future.

FAQs About Tampa, FL Tax Lien Law

What Is the Statute of Limitations on a Tax Lien in Florida?

The statute of limitations on a tax lien in Florida can be five or twenty years, depending on the type of tax lien. The statute of limitations countdown begins from the date the tax was assessed, the tax became delinquent, or a tax warrant was filed, whichever date is latest. When the statute of limitations expires, no action can be taken to collect the back taxes; however, tax agencies can choose to renew the lien, extending the statute of limitations.

How Long Do You Have to Pay a Tax Lien in Florida?

In Florida, you should quickly pay off your back taxes to prevent the sale of a tax lien or take other action to negotiate payment of your debt. If you don’t take action, the lien can be sold at a public tax deed sale; however, Florida requires purchasers of a tax lien to wait at least two years after April 1st to apply for a tax deed. Until this deadline, you can recover the property by paying off your debt.

How Do I Get Around a Tax Lien?

The simplest way to get around a tax lien is to pay off the full tax debt and continue paying your taxes in full and on time. If this is not a financial possibility for you, there are other options available. You can negotiate with the tax agency that placed the lien to settle your tax debt another way. In some cases, you can reduce your tax debt or pay it back over a greater period of time to have the lien removed.

Can the IRS Put a Lien on Your House in Florida?

Yes, the IRS can put a lien on your house in Florida. The IRS can place a claim on any property you own to pay a tax debt, including real estate, financial assets, and personal property. The placement of a lien can limit your ability to sell your home or take other actions but does not usually result in the immediate sale of the home. If you are facing a property lien, it’s important to clear your debt to avoid facing serious financial consequences.

Tax Smith Tax Attorneys: Helping You Resolve Your Tax Lien in Tampa

It can be overwhelming to deal with the IRS or state tax agency. When you are an individual or business taxpayer facing a tax lien that you cannot resolve through paying off your tax debt, Tax Smith Tax Attorneys can help you find another solution. Contact our team today to get started with a consultation.