Annotations- Amount of
Exemption
6334 Annotations:
Amount of Exemption- Levy
Property Exempt from
Levy: Amount of Exemption
Notice 2004-81
, I.R.B. 2004-51, 996,
December 20, 2004
.
[ Code
Sec. 6334]
Levy: Amounts exempt from levy: Individual's income: Tables:
Publication 1494. --
The
IRS has released Publication 1494, which contains tables that are to be
used in computing the amount of an individual's income that will be
exempt from a notice of levy to collect delinquent taxes in 2005.
1.
Table for Figuring Amount Exempt From Levy on Wages, Salary, and Other
Income (Forms 668-W(c), 668-W(c)(DO)) and 668-W(ICS) 2005
Publication 1494, shown below, provides tables that show the amount of
an individual's income that is exempt from a notice of levy used to
collect delinquent tax in 2005.
(Amounts are for each pay period.)
_______________________________________________________________________
Filing Status: Single
_______________________________________________________________________
Number of Exemptions Claimed on Statement
_______________________________________________________________________
Pay
Period 1 2 3 4 5 6 More than 6
_______________________________________________________________________
Daily 31.54 43.85 56.15 68.46 80.77 93.08 19.23 plus
12.31 for
each exemption
_______________________________________________________________________
Weekly 157.69 219.23 280.77 342.31 403.85 465.38 96.15 plus
61.54 for
each exemption
_______________________________________________________________________
Biweekly 315.38 438.46 561.54 684.62 807.69 930.77 192.31 plus
123.08 for
each exemption
_______________________________________________________________________
Semimonthly 341.67 475.00 608.33 741.67 875.00 1008.33 208.33
plus 133.33 for
each exemption
_______________________________________________________________________
Monthly 683.33 950.00 1216.67 1483.33 1750.00 2016.67 416.67
plus 266.67 for
each exemption
_______________________________________________________________________
_______________________________________________________________________
Filing Status: Unmarried Head of Household
_______________________________________________________________________
Number of Exemptions Claimed on Statement
_______________________________________________________________________
Pay
Period 1 2 3 4 5 6 More than 6
Daily 40.38 52.69 65.00 77.31 89.62 101.92 28.08 plus
12.31 for
each exemption
_______________________________________________________________________
Weekly 201.92 263.46 325.00 386.54 448.08 509.62 140.39 plus
61.54 for
each exemption
_______________________________________________________________________
Biweekly 403.85 526.92 650.00 773.08 896.15 1019.23 280.77 plus
123.08 for
each exemption
_______________________________________________________________________
Semimonthly 437.50 570.83 704.17 837.50 970.83 1104.17 304.17 plus
133.33 for
each exemption
_______________________________________________________________________
Monthly 875.00 1141.67 1408.33 1675.00 1941.67 2208.33 608.33 plus
266.67 for
each exemption
_______________________________________________________________________
Filing Status: Married Filing Joint Return (and Qualifying Widow(er)s)
_______________________________________________________________________
Number of Exemptions Claimed on Statement
_______________________________________________________________________
Pay
Period 1 2 3 4 5 6 More than 6
_______________________________________________________________________
Daily 50.77 63.08 75.38 87.69 100.00 112.31 38.46 plus
12.31 for
each exemption
_______________________________________________________________________
Weekly 253.85 315.38 376.92 438.46 500.00 561.54 192.31 plus
61.54 for
each exemption
_______________________________________________________________________
Biweekly 507.69 630.77 753.85 876.92 1000.00 1123.08 384.62 plus
123.08 for
each exemption
_______________________________________________________________________
Semimonthly 550.00 683.33 816.67 950.00 1083.33 1216.67 416.67 plus
133.33 for
each exemption
_______________________________________________________________________
Monthly 1100.00 1366.67 1633.33 1900.00 2166.67 2433.33 833.33 plus
266.67 for
each exemption
_______________________________________________________________________
_______________________________________________________________________
Filing Status: Married Filing Separate Return
_______________________________________________________________________
Number of Exemptions Claimed on Statement
_______________________________________________________________________
Pay
Period 1 2 3 4 5 6 More than 6
_______________________________________________________________________Daily 31.54 43.85 56.15 68.46 80.77 93.08 19.23 plus
12.31 for
each exemption
_______________________________________________________________________
Weekly 157.69 219.23 280.77 342.31 403.85 465.38 96.15 plus
61.54 for
Biweekly 315.38 438.46 561.54 684.62 807.69 930.77 192.31 plus
123.08 for
each exemption
_______________________________________________________________________ Semimonthly 341.67 475.00 608.33 741.67 875.00 1008.33 208.33 plus
133.33 for
each exemption
_______________________________________________________________________
Monthly 683.33 950.00 1261.67 1483.33 1750.00 2016.67 416.67 plus
266.67 for
each exemption
_______________________________________________________________________
2. Table for Figuring Additional Exempt Amount for Taxpayers at Least
65 Years Old and/or Blind
Additional
Exempt Amount
_______________________________________________________________________Filing Status * Daily Wkly Bi-Wkly Semi-Mo Monthly
_______________________________________________________________________Single or Head 1 4.81 24.04 48.08 52.08 104.17
of Household 2 9.62 48.08 96.15 104.17 208.33
_______________________________________________________________________
Any Other 1 3.85 19.23 38.46 41.67 83.33
Filing Status 2 7.69 38.46 76.92 83.33 166.67
3 11.54 57.69 115.38 125.00 250.00
4 15.38 76.92 153.85 166.67 333.33
_______________________________________________________________________
* ADDITIONAL STANDARD DEDUCTION claimed on Parts 3, 4, & 5 of levy.
Examples
These tables show the amount exempt from a levy on wages, salary, and
other income. For example:
1. A single taxpayer who is paid weekly and claims three exemptions
(including one for the taxpayer) has $280.77 exempt from levy.
2. If the taxpayer in number 1 is over 65 and writes 1 in the ADDITIONAL
STANDARD DEDUCTION space on Parts 3, 4, & 5 of the levy, $304.81 is
exempt from this levy ($280.77 plus $24.04).
3. A taxpayer who is married, files jointly, is paid bi-weekly, and
claims two exemptions (including one for the taxpayer) has $630.77
exempt from levy.
4. If the taxpayer in number 3 is over 65 and has a spouse who is blind,
this taxpayer should write 2 in the ADDITIONAL STANDARD DEDUCTION space
on Parts 3, 4, & 5 of the levy. Then, $707.69 is exempt from this
levy ($630.77 plus $76.92).
Notice 2004-4
, I.R.B. 2004-2, 273,
January 9, 2004
.
[ Code
Sec. 6334]
Levy: Amounts exempt
from levy: Individual's income: Tables: Publication 1494. --
The
IRS has released Publication 1494, which contains tables that are to be
used in computing the amount of an individual's income that will be
exempt from a notice of levy to collect delinquent taxes in 2004. For
example, according to the tables, a single taxpayer who is paid weekly
and claims three exemptions will have $272.12 exempt from levy. A
married individual who files a joint return, is paid biweekly and claims
two exemptions will have $611.54 exempt from levy.
Publication
1494, shown below, provides tables that show the amount of an
individual's income that is exempt from a notice of levy used to collect
delinquent tax in 2004.
1. Table for Figuring Amount Exempt from Levy on Wages, Salary, and
Other Income (Forms 668-W(c), 668-W(c)(DO) & 668-W(ICS)) 2004
(Amounts are for each pay period.)
_______________________________________________________________________
Filing Status: Single
_______________________________________________________________________ Pay Number of Exemptions Claimed on Statement
Period 1 2 3 4 5 6 More Than 6
_______________________________________________________________________
Daily 30.58 42.50 54.42 66.35 78.27 90.19 18.65 plus 11.92 for
each exemption
_______________________________________________________________________ Weekly 152.88 212.50 272.12 331.73 391.35 450.96 93.27 plus 59.62 for
each exemption
_______________________________________________________________________Biweekly 305.77 425.00 544.23 663.46 782.69 901.92 186.54 plus 119.23
for each exemption
_______________________________________________________________________Semimonthly 331.25 460.42 589.58 718.75 847.92 977.08 202.08 plus
129.17 for
each exemption
_______________________________________________________________________Monthly 662.50 920.83 1179.17 1437.50 1695.83 1954.17 404.17 plus
258.33 for
each exemption
_______________________________________________________________________
Filing Status: Unmarried Head of Household
_______________________________________________________________________ Pay Number of Exemptions Claimed on Statement
Period 1 2 3 4 5 6 More Than 6
_______________________________________________________________________Daily 39.42 51.35 63.27 75.19 87.12 99.04 27.50 plus 11.92
for each exemption
_______________________________________________________________________ Weekly 197.12 256.73 316.35 375.96 435.58 495.19 137.50 plus 59.62
for each exemption
_______________________________________________________________________Biweekly 394.23 513.46 632.69 751.92 871.15 990.38 275.00 plus 119.23
for each exemption
_______________________________________________________________________Semimonthly 427.08 566.25 685.42 814.58 943.75 1072.92 297.92 plus
129.17 for
each exemption
_______________________________________________________________________Monthly 854.17 1112.50 1370.83 1629.17 1887.50 2145.83 595.83 plus
258.33 for
each exemption
_______________________________________________________________________
Filing Status: Married Filing Joint Return (and Qualifying Widow(er)s)
_______________________________________________________________________ Pay Number of Exemptions Claimed on Statement
Period 1 2 3 4 5 6 More Than 6
_______________________________________________________________________ Daily 49.23 61.15 73.08 85.00 96.92 108.85 37.31 plus
11.92 for
each exemption
_______________________________________________________________________ Weekly 246.15 305.77 365.38 425.00 484.62 544.23 186.54 plus 59.62
for each exemption
_______________________________________________________________________Biweekly 492.31 611.54 730.77 850.00 969.231088.46 373.08 plus 119.23
for each exemption
_______________________________________________________________________Semimonthly 533.33 662.50 791.67 920.83 1050.00 1179.17 404.17 plus
129.17 for
