arise upon a taxpayer's failing to pay the money due within 60 days of the receipt of a Notice and Demand letter. The lien attaches to all of the taxpayer's property and rights to property, whether owned before assessment or acquired after the date of the lien. This lien does not result in the direct collection of any money by the Service unless the Service first enforces the lien by either using an administrative levy, an administrative seizure and judicial remedies.
A legal claim on the property that acts as a security for the payment of a debt. If the debt is not repaid as promised, the lender or the lien holder can foreclose its claim on the property and force a public sale to pay the debt.
A restriction on a certain parcel of property that usually reflects an amount of money due to a third party from the owner of the property, which may or may not be related to the property. Examples are liens, and mechanic's liens. tax liens, judgment