The filing of a federal tax lien by the IRS can make your life miserable.  There is a public record filed with the County Clerk in the county where you live or your business operates.  An IRS lien is a filing on your property, usually real estate.  It is important to get this lien released in order to save the equity in your assets.  An IRS levy is a notice to collect taxes.  This is usually an action taken against your bank accounts or your accounts receivable.  The IRS sends a notice to your bank to withdraw the money from the account and send it to them and to your customers for them to send any payments due you directly to them.  This can be a disaster because it depletes your current cash and your future cash flow.  It is important to get this levy released to enable you and not the IRS to have the use of these funds.