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The levy includes the power of distraint and seizure by any means.
It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property. A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt. The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. If you have a tax debt, the IRS can issue a levy , which is a legal seizure of your property or assets.
It is different from a lien — while a lien makes a claim to your assets as security for a tax debt, the levy takes your property (such as funds from a bank account, Social Security benefits, wages, your car, or your home). IRS Notice of Intent to Levy. The Notice of Intent to Levy is the last notice you must receive before the IRS can seize your property.