Tax liens, whether they be federal, state, county or other can make life simply deplorable. The IRS can and will establish a lien against all of your assets, be it real estate or other when your taxes are not paid. The IRS can legally collect taxes from the sale of your assets which includes anything and everything that you may own.
A lien can be against you, a spouse, or your company. So anything you, your spouse, or accounts receivable from your company can be in the blink of an eye property of the United States Government. This is one of the worst feelings anyone can have.
A tax lien will show up on your credit report and prevent you from obtaining funds from assets or from opening a checking account. Banks just will not want to deal with this kind of issue. If you were trying to get a loan for a purchase, the interest will be ridiculous and not worth even entertaining. The list of how a tax lien can affect you is long to say the least.