A levy is a legal seizure of property to satisfy a debt or obligation, often related to taxes. Governments impose levies to collect funds necessary for public services, infrastructure, and other essential functions. This process ensures that individuals and businesses contribute their fair share to support the community. When a tax levy is enacted, it can involve garnishing wages, seizing bank accounts, or placing liens on property. Tax authorities, such as the Internal Revenue Service (IRS) in the United States, typically follow specific procedures before levying assets, ensuring that taxpayers are informed and given opportunities to resolve their debts.