Source: https://weberlaw.com/BAPCPA/usc-misc/26-USC/statutes/26-usc-statute-6334.htm
Timestamp: 2019-01-22 06:30:48
Document Index: 734119808

Matched Legal Cases: ['§ 6334', '§ 6334', '§ 406', '§ 812', '§ 104', '§ 945', '§ 1209', '§ 1906', '§ 347', '§ 2661', '§ 1565', '§ 1015', '§ 6236', '§ 5', '§ 502', '§ 110', '§ 110', '§ 5514', '§ 312', '§ 1025', '§ 3431', '§ 6334']

26 U.S.C. § 6334 - Statute
§ 6334. Property exempt from levy
(a) • Enumeration
(b) • Appraisal
(c) • No other property exempt
(d) • Exempt amount of wages, salary, or other income
(e) • Levy allowed on principal residences and certain business assets in certain circumstances
(f) • Levy allowed on certain specified payments
(g) • Inflation adjustment
(a) Enumeration. There shall be exempt from levy—
(3) Books and tools of a trade, business, or profession. So many of the books and tools necessary for the trade, business, or profession of the taxpayer as do not exceed in the aggregate $3,125 in value.
(4) Unemployment benefits. Any amount payable to an individual with respect to his unemployment (including any portion thereof payable with respect to dependents) under an unemployment compensation law of the United States, of any State, or of the District of Columbia or of the Commonwealth of Puerto Rico.
(10) Certain service-connected disability payments. Any amount payable to an individual as a service-connected (within the meaning of section 101(16) of title 38, United States Code) disability benefit under—
(11) Certain public assistance payments. Any amount payable to an individual as a recipient of public assistance under—
(A) Residences in small deficiency cases. If the amount of the levy does not exceed $5,000—
(B) Principal residences and certain business assets. Except to the extent provided in subsection (e)—
(1) Individuals on weekly basis. In the case of an individual who is paid or receives all of his wages, salary, and other income on a weekly basis, the amount of the wages, salary, and other income payable to or received by him during any week which is exempt from levy under subsection (a)(9) shall be the exempt amount.
(2) Exempt amount. For purposes of paragraph (1), the term "exempt amount" means an amount equal to—
(2) Certain business assets. Property (other than a principal residence) described in subsection (a)(13)(B) shall not be exempt from levy if—
(1) In general. In the case of any calendar year beginning after 1999, each dollar amount referred to in paragraphs (2) and (3) of subsection (a) shall be increased by an amount equal to—
(Aug. 16, 1954, ch. 736, 68A Stat. 784; Pub. L. 85-840, title IV, § 406, Aug. 28, 1958, 72 Stat. 1047; Pub. L. 89-44, title VIII, § 812(a), June 21, 1965, 79 Stat. 170; Pub. L. 89-719, title I, § 104(c), Nov. 2, 1966, 80 Stat. 1137; Pub. L. 91-172, title IX, § 945(a), Dec. 30, 1969, 83 Stat. 729; Pub. L. 94-455, title XII, § 1209(a)-(c), title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1709, 1710, 1834; Pub. L. 97-248, title III, § 347(a), Sept. 3, 1982, 96 Stat. 638; Pub. L. 98-369, div. B, title VI, § 2661(o)(5), July 18, 1984, 98 Stat. 1159; Pub. L. 99-514, title XV, § 1565(a), Oct. 22, 1986, 100 Stat. 2763; Pub. L. 100-647, title I, § 1015(o), title VI, § 6236(c), Nov. 10, 1988, 102 Stat. 3572, 3738; Pub. L. 102-83, § 5(c)(2), Aug. 6, 1991, 105 Stat. 406; Pub. L. 104-168, title V, § 502(a)-(c), July 30, 1996, 110 Stat. 1461; Pub. L. 104-193, title I, § 110(l)(3), formerly § 110(l)(6), Aug. 22, 1996, 110 Stat. 2173, renumbered and amended Pub. L. 105-33, title V, § 5514(a)(2), (3), Aug. 5, 1997, 111 Stat. 620; Pub. L. 105-34, title III, § 312(d)(1), title X, § 1025(a), Aug. 5, 1997, 111 Stat. 839, 924; Pub. L. 105-206, title III, § 3431(a)-(c), 3445(a), (b), July 22, 1998, 112 Stat. 758, 762, 763.)
HISTORICAL AND REVISION NOTES (26 U.S.C. § 6334)