Is there a difference between lifting and piercing the veil of incorporation?

Yes, there is a difference between lifting and piercing the veil of incorporation. "Lifting the veil" typically refers to examining the corporate structure to hold shareholders accountable, often for regulatory or tax purposes, without necessarily attributing liability. In contrast, "piercing the veil" involves legally disregarding the corporation's separate entity status to hold shareholders personally liable for the corporation's debts or actions, usually due to fraud or misuse of the corporate form. Both concepts are used to address situations where the corporate entity is misused, but they have different legal implications and outcomes.