A Notice of Federal Tax Lien is a public notice filed by the IRS as a legal claim to your property as security for your tax debt. Once the lien is filed your creditors are publicly notified that the IRS has a claim against your property, both real and personal. The lien may attach to your house, your car, and if in business your accounts receivable. The Notice of Federal Tax Lien is also used to establish priority in certain situations, such as a real estate sale or a bankruptcy proceeding. In some cases a tax lien may damage your credit rating preventing you from purchasing a home or obtaining a loan. The tax lien will remain a matter of public record until it is paid in full, or the 10 year statute for collection has expired.