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Unemployment Benefits
How will receiving unemployment benefits impact total income earned and total taxes due?
‎September 9, 2021
11:32 AM
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Get your taxes done using TurboTax
Hi RMT_BO. Great question. Traditionally the IRS and many states tax unemployment income.
https://www.irs.gov/taxtopics/tc418
So far there have been no announcements yet if the 2020 exception will apply in 2021. We are all tracking this with interest.
In 2020, the IRS made an exception
Let me know if this answers your question.
and did not tax $10,200 per independent filer.
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‎September 9, 2021
12:45 PM
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