You better believe it! It kills your credit. The IRS tax lien is a destroyer to all those who want to ever get a loan.
Caution!
Once a lien is filed, your credit rating may be harmed. You may not be able to get a loan to buy a house or a car, get a new credit card, or sign a lease. Therefore, it is important that you work to resolve your tax liability as quickly as possible, before lien filing becomes necessary.
This is the case because IRS can seize an item you have just purchased. You want to stay away from this federal tax lien as much as possible. People can never make the aformentioned purchases once this lien is filed. You will need a release of the federal tax lien to resolve this problem.
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