Sometimes people who receive notice of federal tax liens, plan to pay the IRS by selling assets. A tax lien complicates this plan as it can prevent or delay you from selling any property or assets. Here are ways a tax lien may affect you.
- A federal tax lien may attach to a variety of assets including real estate, vehicles, retirement funds, investments or any other personal property.
- An IRS lien may limit your ability to obtain credit.
- A federal tax lien may survive a bankruptcy and might continue to attach to certain assets even after a bankruptcy has been discharged.