A bill to amend the Internal Revenue Code of 1954 to limit the amount of any tax lien, to provide taxpayers a cause of action for wrongful levy on property, and for other purposes.

Amends the Internal Revenue Code to limit the amount of any tax lien which may be imposed to the amount of any tax owed plus any interest, penalty, or costs.

Provides procedures for the discharge of tax liens where: (1) the property has a value in excess of the tax liability; (2) partial payment has been made; or (3) the interest of the United States is valueless.

Limits the property which may be seized or levyed upon to only that property possessed and obligations existing at the time of the tax deficiency. Prohibits the seizure and sale of property which has no value other than a value to the owner.

Prohibits the seizure or levying upon of property of a taxpayer who has entered into an installment payment plan with the Internal Revenue Service.

Permits a taxpayer (or a third party with an intest in the property) to bring a civil action against the United States in a U.S. district court on a claim that a lien was imposed or levy made in knowing violation of specified procedures or in knowing violation of an agreement made between the taxpayer and the Internal Revenue Service.