You may assume that levy and lien are the same, but you need to know more details about it so that you can decide which one you need to get. A lien is known to be a legal claim against your property so that you can easily secure the payment of your tax debt. The levy is the process by which your property will be taken so that the tax debt can be satisfied.
The tax lien is usually given after your property has already been assessed, and you were unable to pay the debt for it. When the file of the IRS is filed and approved, it will let the creditors become aware that the government can already get your property.
Lien and Levy are two important parts of taxation. Most times, they are used by the government to make people pay their taxes at the right time. While the end result of the two is to help the government get what you owe them as a taxpayer, both are not totally related. Lien is what gives the government or anybody a right to your possession till the time you are able to pay back everything you owe.
This looks like a form of agreement, and that's why it is mostly filed in court. This means if you fail to service your debt, your creditor might sell your property. Levy, on the other hand, is often used by the government to confiscate someone's assets as a result of his failure to pay his taxes. While the government does not need to go to court to get this done, it is expected a period of 30 days is given to notify before this action is taken.
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