IRS issues guidance on amounts exempt from levy

The IRS has issued guidance on figuring the amounts that are exempt from levy. The guidance was issued because the amounts are determined using exemptions rather that dependents due to the Tax Cuts and Jobs Act of 2018 (P.L. 115-97). The notice is reproduced in this Report Letter on pages 10—11. (IRS Notice 1439, Figuring the Amount Exempt from Levy on Wages, Salary, and Other Income – Forms 668-W, 668-W(ACS) and 668-W(ICS) (May 2018).)
Previously, the IRS issued the 2018 wage amounts that are exempt from levy (see Payroll Management Guide Report Letter 1518/2555, dated May 8, 2018). The figures are issued annually as part of IRS Pub. 1494. The figures are also reproduced in the Payroll Management Guide at ¶3925. (IRS Pub. 1494, Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income (Forms 668-W(ACS), 668-W(c)(DO) and 668-W(ICS)), (05-2018).)

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