Posts with tag unemployment-benefits

THE TAX MAN COMETH FOR YOUR UNEMPLOYMENT BENEFITS

Guest Writer, February 20 2021

Here’s the thing, though: the federally funded weekly payments ($600 last year, $300 this) — like state UI benefits — are taxable by the IRS at a minimum. 

Most states tax UI benefits as well. Of the 40 states that tax income, only five — California, New Jersey, Oregon, Pennsylvania and Virginia — fully exempt UI benefits. 

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