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Form 668-B Downey California: What You Should Know

The employer may claim a tax credit for the full amount of the levy. The amount of the credit is determined by subtracting 7.5 percent of the amount of levy against the wages, salary, or other compensation and, if claimed, the credit will be equal to the greatest of 600 or the amount that the employee would pay, or would receive if the amount of levy is not claimed. The levy is generally effective as of the date of the last day of the last calendar quarter to which it applies. The Form 668-W(I) or 668-W(T) is used in the event that the employer levies an amount based on an “all or in part compensation.” However, such an all or in part compensation includes any amount paid or payable directly, or allocated to an employee, including, without limitation, any benefit provided pursuant to such an all or part compensation. In addition, an employee's all or in part compensation includes all severance compensation, severance payment, and other benefit payments made to an employee by an employer. It does not include amounts subject to a bona fide collective bargaining agreement, or amounts subject to statutory or mandatory payments. The amount of wage garnishment is subject to an administrative regulation issued by the California Department of Industrial Recovery. You do not need to send Form W-1 to the IRS when you levy your employee's wages, salary or other compensation. Do Not Include a Form W-1 with the Employee's Levy Payments In the event that your employee makes any payment of wages, salary or other compensation to you, you should include a Form W-1 with the Form 668-W(I) or 668-W(T) payer, the amount of which will be subtracted in the calculation of net wages, salary or other compensation paid directly to you. Form W-1 and Form W-2 The IRS may require that a business send your employee a Form W-1 or Form W-2 if the employees wages, remittances, and other compensation will be subject to levy. The payment must be made electronically and should address only yourself, the employer with whom you are making your payments, and the employee (not to the business or other entity that issued the Form W-1).

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