6. Receive a federal tax lien
We know… the name itself scares a lot of people, and it should since a federal tax lien is basically Uncle Sam’s legal right to claim against your personal property, financial assets (cars), and wages in case you fail to pay your taxes.
In other words, a lien is a claim that ensures the taxman that he will get his money (one way or another). If you check IRS Publication 594, you will see that this type of lien can be filed to creditors, landlords, and employers, too.
If you end up having an agreement with Uncle Sam to pay what you owe through installments, the tax lien may be withdrawn.
