Tax-related identity theft happens when someone steals your personal information to commit tax fraud. Your taxes can be affected if your Social Security number is used to file a fraudulent return or to claim a refund or credit.

https://www.irs.gov/identity-theft-central

Assets — A lien attaches to all of your assets (such as property, securities, vehicles) and to future assets acquired during the duration of the lien.

Credit — Once the IRS files a Notice of Federal Tax Lien, it may limit your ability to get credit.

Business — The lien attaches to all business property and to all rights to business property, including accounts receivable.

Bankruptcy — If you file for bankruptcy, your tax debt, lien, and Notice of Federal Tax Lien may continue after the bankruptcy.

(Courtesy of http://www.irs.gov)

(This article is courtesy of the Internal Revenue Service)

What is a Federal Tax Lien?

A federal tax lien is the government’s legal claim against your

property when you neglect or fail to pay a tax debt. The lien protects

the government’s interest in all your property, including real estate,

personal property and financial assets. A federal tax lien exists after:

The IRS:

Puts your balance due on the books (assesses your liability);

Sends you a bill that explains how much you owe (Notice and Demand for Payment); and

You:

Neglect or refuse to fully pay the debt in time.

The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.

https://www.irs.gov/businesses/small-businesses-self-employed/understanding-a-federal-tax-lien