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You may not recognize the full impact of a tax lien until you are dealing with one. They can have an adverse impact on your spending power and make it difficult to get lines of credit, loans, credit cards, or mortgages. If a tax lien is placed on your business, it could impact your transactions, contracts, and the credit you rely on to keep the business functional. This is why it is critical to work with a St. Augustine tax lien lawyer to get your situation resolved quickly.
A tax lien can be a frustrating burden on individuals, families, and businesses. There are a number of different means for resolving these situations. To take full advantage of every opportunity available to you to address a lien against you or your business, you will want to enlist the support of a St. Augustine tax lien lawyer.
Managing taxes is already an incredibly difficult task. Many people hire an accountant to help them, particularly if they have complex assets, investments, or a business. Tax law, which involves issues like liens, can take that complexity up another level. You need the help of a lawyer and legal team that has a full understanding of the relevant laws and concerns related to these issues.
A St. Augustine tax lien lawyer can help you work towards some kind of resolution for the lien against your property. While a lien is present against you, it could negatively affect everything from your employment to your business to your credit. It also means the assets that you own are at risk, as well, if the government decides to escalate your lien to a tax levy and moves to take your property.
The quickest and simplest way to resolve a tax lien in St. Augustine, FL is simply to pay off the tax debt that you owe. For most people, though, that is not really an option. Therefore, it is often necessary to seek some kind of alternative means of addressing the lien. This is what a tax lien lawyer can help with.
There are a number of potential options that could address a tax lien against you. Each situation, though, is unique, and it is important that you have the right solution for your situation. The consequences of a mistake, error, or delay in these issues can be devastating for yourself or your business. Enlisting the help of the team at TaxSmith, LLC, can be essential to ensuring that every option is considered and the right solution for your situation is sought.
After considering the scope of your situation and gathering the important information, we can help advise you as to what solutions you may be able to qualify for. In some cases, we may be able to negotiate a release and removal of the lien. We may be able to reach a settlement or payment plan. There may be other solutions as well, such as lien subordinations, an offer in compromise, or another kind of settlement.
We will work hard to find a solution that takes care of your lien in a way that you’ll be able to manage. It is important to recognize that the government doesn’t necessarily want your assets but rather wants the tax payment. This means that some type of negotiation that protects your asset and removes the lien can usually be found.
When a tax lien is filed in Florida, it is usually done so with a date of 20 years before it will expire. Further, it’s possible for either the IRS or the Florida Department of Revenue to renew the lien as well, which could extend it for another 10 to 20 years. However, it is also possible that the lien can be released or considered satisfied if some kind of settlement or agreement is reached.
Property taxes in Florida are due by March 31st of the year following an assessment. Since, in most cases, the properties are assessed annually, the property tax is due annually by March 31st. This means that on April 1st, penalties and interest will begin to be added to the delinquent taxes. Eventually, the property may be taken. However, it usually takes years of delinquency to reach that point.
Florida is a tax deed state, which means that delinquent property taxes may be paid by a third party through a tax certificate, which then gives the owner a lien on the property. This gives the certificate holder a chance to sell the property at auction if the property owner fails to pay the certificate holder the taxes, interest, and penalties within a redemption period.
There are a number of different approaches that you can use to address a lien in Florida. A tax lien lawyer can help you understand what kind of settlement, payment plan, offer in compromise or other solution may be right for your situation.
We understand how scary a tax lien situation can be. Having these assets that you’ve worked hard to acquire threatened can be a shocking and frightening circumstance. However, it is important to not lose hope and realize that there are solutions. Enlist the support of a professional tax lien tax firm to walk you through every step of finding the solution for you.
A St. Augustine tax lien lawyer at TaxSmith, LLC, can help you find an option that may work for you. We look at our clients’ income, debts, and full financial situation and help them come up with a plan to protect their assets and move forward. Contact us today to discuss your situation.
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