How a Lien Affects You

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)