- Spouses filing jointly can double all exemptions.
- These Exemptions are adjusted for inflation every three years: last adjusted - 2019; next adjustment -April 1, 2022.
- Debtors in the following states can use the federal exemptions instead of their state exemptions:
Homestead
Tenancy by the Entirety
Insurance
Miscellaneous
Pensions & Retirement Savings
Personal Property
Public Benefits
Tools of Trade
Wage Garnishment Limits
The federal bankruptcy exemptions do not have a separate exemption for wages. If you use the federal exemptions (assuming you live in a state where you can), the only way to protect wages is by using the wildcard exemption.