After giving a public notice, the IRS will generally wait at least 10 days before selling your property. The money from the sale pays the cost of seizing and selling the property and, ultimately, your tax debt. Information about bank levies If the IRS collects taxes from your bank, the funds in the account are held and, after 21 days, sent to the IRS. Learn more about bank levies and the like here.
Before paying your tax debt, the IRS first takes the money from the sale to pay the cost of seizing and selling the property. Then, if there's anything left, it will go to your taxes. Basically, your property pays for its own seizure and sale. Retirement funds are also fair game for the IRS, including social security payments and any other form of pension.
In addition, a tax levy imposed on your property may allow the IRS to force the sale of real estate or other assets and to raise funds from the sale to pay off your debt. The good news is that the IRS seizes and sells very few houses; in any given year, there are fewer than 500 in the entire country. That's one of the millions of tax debts owed.