Check your records: The IRS recently updated several key pubs and forms related to federal tax levies.

 

You’ll want to double-check that you have the most up-to-date info when calculating how much of an employee’s pay is exempt from levy.

 

New instructions

 

Because the Tax Cuts and Jobs Act eliminated the personal exemption, the requirements for determining what wages and salary are exempt from levy have changed.

 

Due to these changes, the IRS has issued Notice 1439. The notice includes new detailed instructions for completing levy Forms 668-W, 668-W (ACS) and 668-W (ICS).

 

You can review the notice by visiting irs.gov/pub/irs-pdf/n1439.pdf.

 

In addition, the agency has revised Publication 1494, which contains the tables necessary for calculating the total amount of exempt income.

 

Warning: There are two versions of this publication for 2018. You should be using the one updated in May 2018, not December 2017. Find it at: irs.gov/b=pub/irs-pdf/p1494.pdf