NOTICE OF FEDERAL TAX LIEN
The IRS will file a "Notice of Federal Tax Lien", that is a
"Levy against personal or real property".
If your personal or business property has been attached with a tax lien, your credit rating could suffer.
You have to pay Uncle Sam before you can be unburdened from the lien.
Usually, as long as you are making payments or while you are waiting for consideration for an installment agreement, the IRS will not place a lien on your property.
The IRS will give you a break from enforced collection for a period of 30 days after a request for an agreement has been rejected (nice of them)
Generally, IRS enforced collection actions are not made while an installment agreement request is being considered.
Uncle Sam usually won't come down on you with a lien for the time while a timely appeal of rejection or termination is being evaluated by the IRS.
These problems can be overwhelming, and it may be well worth your time and money to seek professional help with these sorts of problems before you end up too far over your head.
A lot of people break out in a nervous sweat and get the shakes when it comes time to file their taxes.
The first time that I tried to file by myself left me with a feeling of confusion because I did not bother to read any information about how to go about it in a fair way, a way that didn't leave me broke and living in a cardboard box in the alley.
I just had at it without reading anything and it was overwhelming. I assure you that after all these years I won't get into a difficult situation like that without any proper info and good forms to file.
Some folks just file as fast as they can to get it over with. They loose out on a bunch of legitimate deductions and allocations that could have saved them a ton of money at tax time.
I would rather be getting a nice tax refund than pay the IRS a lot of money. Pay attention to the details.