Internal Revenue Code · 26 U.S.C.
§ 6342. Application of proceeds of levy
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 6342
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- November 2, 1966 by Pub. L. 89–719
- Last amended
- March 23, 2018 by Pub. L. 115–141
- Amendments
- 2 dated changes in the source credit
- Length
- 2 subsections · 258 words · about 1 min to read
- Cross-references
- cites 1; cited by 2 Code sections and 3 other regulations
- Regulations
- 1 issued under this section
If the property seized and sold is subject to a tax imposed by any internal revenue law which has not been paid, the amount remaining after applying paragraph (1) shall then be applied against such tax liability (and, if such tax was not previously assessed, it shall then be assessed);
The amount, if any, remaining after applying paragraphs (1) and (2) shall then be applied against the liability in respect of which the levy was made or the sale was conducted.
(Aug. 16, 1954, ch. 736, 68A Stat. 789; Pub. L. 89–719, title I, § 104(h), Nov. 2, 1966, 80 Stat. 1137; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 115–141, div. U, title IV, § 401(a)(284), Mar. 23, 2018, 132 Stat. 1198.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 6342
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 2 Code sections
- § 6207(3) Cross references
- § 6339(d)(1) Legal effect of certificate of sale of personal property and deed of real property
Cited in 3 regulations not issued under it
Amendment history
From the source credit and the official notes, newest first.
Where it sits in the Code
- Subtitle F Procedure and Administration
- Chapter 64 COLLECTION
- Subchapter D Seizure of Property for Collection of Taxes
- Part II LEVY
Nearby sections
- § 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
- § 6344 Cross references
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
2018—Subsec. (a). Pub. L. 115–141 substituted “subsection (d)(2)” for “subsection (c)(2)” in introductory provisions.
1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.
1966—Subsec. (a). Pub. L. 89–719 inserted in introductory provisions, references to an exception in the case of surrender under section 6332(c)(2) and to sale of property redeemed by the United States if the interest of the United States in such property was a lien arising under the provisions of this title, struck out “under this subchapter” after “proceedings” in par. (1), and inserted “or the sale was conducted” after “levy was made” in par. (3).
Statutory Notes and Related Subsidiaries
Effective Date of 1966 Amendment
Amendment by Pub. L. 89–719 applicable after Nov. 2, 1966, regardless of when title or lien of United States arose or when lien or interest of another person was acquired, with certain exceptions, see section 114(a)–(c) of Pub. L. 89–719, set out as a note under section 6323 of this title.