27 CFR 70.241 - Property exempt from levy.

§ 70.241 Property exempt from levy.

(a)Enumeration. There shall be exempt from levy:

(1)Wearing apparel and school books. Such items of wearing apparel and such school books as are necessary for the taxpayer or for members of the taxpayer's family. Expensive items of wearing apparel, such as furs, which are luxuries and are not necessary for the taxpayer or for members of the taxpayer's family, are not exempt from levy.

(2)Fuel, provisions, furniture, and personal effects. If the taxpayer is the head of a family, so much of the fuel, provisions, furniture, and personal effects in the taxpayer's household, and of the arms for personal use, livestock, and poultry of the taxpayer, as does not exceed $1,650 in value. For purposes of this provision, an individual who is the only remaining member of a family and who lives alone is not the head of a family.

(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 an individual taxpayer as do not exceed in the aggregate $1,100 in value.

(4)Unemployment benefits. Any amount payable to an individual with respect to that individual's 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.

(5)Undelivered mail. Mail, addressed to any person, which has not been delivered to the addressee.

(6)Certain annuity and pension payments. Annuity or pension payments under the Railroad Retirement Act ( 45 U.S.C. chapter 9), benefits under the Railroad Unemployment Insurance Act ( 45 U.S.C. chapter 11), special pension payments received by a person whose name has been entered on the Army, Navy, Air Force, and Coast Guard Medal of Honor roll ( 38 U.S.C. 562), and annuities based on retired or retainer pay under 10 U.S.C. chapter 73.

(7)Workmen's compensation. Any amount payable to an individual as workmen's compensation (including any portion thereof payable with respect to dependents) under a workmen's compensation law of the United States, any State, the District of Columbia, or the Commonwealth of Puerto Rico.

(8)Judgments for support of minor children. If the taxpayer is required under any type of order or decree (including an interlocutory decree or a decree of support pendente lite) of a court of competent jurisdiction, entered prior to the day of levy, to contribute to the support of such taxpayer's minor children, so much of the taxpayer's salary, wages, or other income as is necessary to comply with such order or decree. The taxpayer must establish the amount necessary to comply with the order or decree. The appropriate TTB officer is not required to release a levy until such time as that officer is satisfied that the amount to be released from levy will actually be applied in satisfaction of the support obligation. The appropriate TTB officer may make arrangements with a delinquent taxpayer to establish a specific amount of such taxpayer's salary, wage, or other income for each pay period which shall be exempt from levy. Any request for such an arrangement shall be directed to the appropriate TTB officer. Where the taxpayer has more than one source of income sufficient to satisfy the support obligation imposed by the order or decree, the amount exempt from levy may at the discretion of the appropriate TTB officer be allocated entirely to one salary, wage, or source of other income or be apportioned between the several salaries, wages, or other sources of income.

(9)Minimum exemption for wages, salary, and other income. Amounts payable to or received by the taxpayer as wages or salary for personal services, or as other income, to the extent provided in §§ 70.242 through 70.245 of this part.

(10)Certain service-connected disability payments. Any amount payable to an individual as a service-connected (within the meaning of 38 U.S.C. 101(16)) disability benefit under:

(i) 38 U.S.C. chapter 11, subchapter II, III, IV, V, or VI, or

(ii) 38 U.S.C. chapter 13, 21, 23, 31, 32, 34, 35, 37, or 39 shall be exempt from levy.

(11)Certain public assistance payments. Any amount payable to an individual as a recipient of public assistance under:

(i) Title 42 U.S.C. subchapter IV (relating to aid to families with dependent children) or 42 U.S.C. subchapter XVI (relating to supplemental security income for the aged, blind, and disabled), or

(ii) State or local government public assistance or public welfare programs for which eligibility is determined by a needs or income test shall be exempt from levy.

(12)Assistance under job training partnership act. Any amount payable to a participant under the Job Training Partnership Act ( 29 U.S.C. 1501et seq.) from funds appropriated pursuant to such Act shall be exempt from levy.

(13)Principal residence exempt in absence of certain approval or jeopardy. Except to the extent provided in § 70.166 of this part, the principal residence of the taxpayer (within the meaning of 26 U.S.C. 1034) is exempt from levy.

(b)Appraisal. The TTB officer seizing property of the type described in 26 U.S.C. 6334(a) shall appraise and set aside to the owner the amount of such property declared to be exempt. If the taxpayer objects at the time of the seizure to the valuation fixed by the officer making the seizure, such officer shall summon three disinterested individuals who shall make the valuation.

(c)Other property. No other property or rights to property are exempt from levy except the property specifically exempted by 26 U.S.C. 6334(a). No provisions of a State law may exempt property or rights to property from levy for the collection of any Federal tax. Thus, property exempt from execution under State personal or homestead exemption laws is, nevertheless, subject to levy by the United States for collection of its taxes.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

§ 4181 - Imposition of tax

§ 4182 - Exemptions

§ 5123 - Preservation and inspection of records, and entry of premises for inspection

§ 5203 - Entry and examination of premises

§ 5207 - Records and reports

§ 5275 - Records and reports

§ 5367 - Records

§ 5415 - Records and returns

§ 5504 - Operation

§ 5555 - Records, statements, and returns

§ 5684 - Penalties relating to the payment and collection of liquor taxes

§ 5741 - Records to be maintained

§ 5761 - Civil penalties

§ 5802 - Registration of importers, manufacturers, and dealers

§ 6020 - Returns prepared for or executed by Secretary

§ 6021 - Listing by Secretary of taxable objects owned by nonresidents of internal revenue districts

§ 6064 - Signature presumed authentic

§ 6102 - Computations on returns or other documents

§ 6155 - Payment on notice and demand

§ 6159 - Agreements for payment of tax liability in installments

§ 6201 - Assessment authority

§ 6203 - Method of assessment

§ 6204 - Supplemental assessments

§ 6301 - Collection authority

§ 6303 - Notice and demand for tax

§ 6311 - Payment of tax by commercially acceptable means

§ 6313 - Fractional parts of a cent

§ 6314 - Receipt for taxes

§ 6321 - Lien for taxes

§ 6323 - Validity and priority against certain persons

§ 6325 - Release of lien or discharge of property

§ 6326 - Administrative appeal of liens

§ 6331 - Levy and distraint

§ 6332 - Surrender of property subject to levy

§ 6333 - Production of books

§ 6334 - Property exempt from levy

§ 6335 - Sale of seized property

§ 6336 - Sale of perishable goods

§ 6337 - Redemption of property

§ 6338 - Certificate of sale; deed of real property

§ 6339 - Legal effect of certificate of sale of personal property and deed of real property

§ 6340 - Records of sale

§ 6341 - Expense of levy and sale

§ 6342 - Application of proceeds of levy

§ 6343 - Authority to release levy and return property

§ 6401 - Amounts treated as overpayments

§ 6402 - Authority to make credits or refunds

§ 6403 - Overpayment of installment

§ 6404 - Abatements

§ 6407 - Date of allowance of refund or credit

§ 6416 - Certain taxes on sales and services

§ 6423 - Conditions to allowance in the case of alcohol and tobacco taxes

§ 6501 - Limitations on assessment and collection

§ 6502 - Collection after assessment

§ 6503 - Suspension of running of period of limitation

§ 6511 - Limitations on credit or refund

§ 6513 - Time return deemed filed and tax considered paid

§ 6514 - Credits or refunds after period of limitation

§ 6532 - Periods of limitation on suits

§ 6601 - Interest on underpayment, nonpayment, or extensions of time for payment, of tax

§ 6602 - Interest on erroneous refund recoverable by suit

§ 6611 - Interest on overpayments

§ 6621 - Determination of rate of interest

§ 6622 - Interest compounded daily

§ 6651 - Failure to file tax return or to pay tax

§ 6653 - Failure to pay stamp tax

§ 6656 - Failure to make deposit of taxes

§ 6657 - Bad checks

§ 6658 - Coordination with title 11

§ 6665 - Applicable rules

§ 6671 - Rules for application of assessable penalties

§ 6672 - Failure to collect and pay over tax, or attempt to evade or defeat tax

§ 6701 - Penalties for aiding and abetting understatement of tax liability

§ 6723 - Failure to comply with other information reporting requirements

§ 6801 - Authority for establishment, alteration, and distribution

§ 6862 - Jeopardy assessment of taxes other than income, estate, gift, and certain excise taxes

§ 6863 - Stay of collection of jeopardy assessments

§ 6901 - Transferred assets

§ 7011 - Registration—persons paying a special tax

§ 7101 - Form of bonds

§ 7102 - Single bond in lieu of multiple bonds

§ 7121 - Closing agreements

§ 7122 - Compromises

§ 7207 - Fraudulent returns, statements, or other documents

§ 7209 - Unauthorized use or sale of stamps

§ 7214 - Offenses by officers and employees of the United States

§ 7304 - Penalty for fraudulently claiming drawback

§ 7401 - Authorization

§ 7403 - Action to enforce lien or to subject property to payment of tax

§ 7406 - Disposition of judgments and moneys recovered

§ 7423 - Repayments to officers or employees

§ 7424 - Intervention

§ 7425 - Discharge of liens

§ 7426 - Civil actions by persons other than taxpayers

§ 7429 - Review of jeopardy levy or assessment procedures

§ 7430 - Awarding of costs and certain fees

§ 7432 - Civil damages for failure to release lien

§ 7502 - Timely mailing treated as timely filing and paying

§ 7503 - Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday

§ 7505 - Sale of personal property acquired by the United States

§ 7506 - Administration of real estate acquired by the United States

§ 7513 - Reproduction of returns and other documents

§ 7601 - Canvass of districts for taxable persons and objects

§ 7602 - Examination of books and witnesses

§ 7603 - Service of summons

§ 7604 - Enforcement of summons

§ 7605 - Time and place of examination

§ 7606 - Entry of premises for examination of taxable objects

§ 7608 - Authority of internal revenue enforcement officers

§ 7609 - Special procedures for third-party summonses

§ 7610 - Fees and costs for witnesses

§ 7622 - Authority to administer oaths and certify

§ 7623 - Expenses of detection of underpayments and fraud, etc.

§ 7653 - Shipments from the United States

§ 7805 - Rules and regulations

Title 27 published on 19-May-2018 03:56

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 27 CFR Part 70 after this date.

  • 2015-09-15; vol. 80 # 178 - Tuesday, September 15, 2015
    1. 80 FR 55246 - Return of Wine to Bonded Premises
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Alcohol and Tobacco Tax and Trade Bureau
      Final rule; Treasury decision.
      This rule is effective on October 15, 2015.
      27 CFR Parts 24 and 70