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Taxes withheld from Unemployment Benefits.
I elected to have Federal taxes withheld for the unemployment benefits that I received in 2020. I received less than the 10,200 limit, but a substantial amount of Federal taxes were withheld from those benefits.
How will Federal taxes that were withheld from unemployment benefits be treated in light of the 10,200 unemployment exclusion, when the IRS recalculates any additional refunds that may be owed to an individual?
May 4, 2021
7:05 PM