A lien is not a levy. There is a common misconception between the two. A lien, or Notice of Federal Tax Lien, secures the governments interest in your property when an individual fails to pay their tax obligations. While, a levy is when the property is seized or taken to pay the liability. If you have an outstanding lien and do not come to an agreement with the IRS, they can levy, seize and sell your property or any property that you have an interest in.