tax treatment of unemployment benefits received in 2021 (not 2020)

The feds allowed a $10,xxx.xx deduction for pandemic unemployment insurance payments made. in calendar 2020 (example--received $15K in benefits but deduct $10K --pay taxes on balance of $5K).

Will the new 2021 legislation (by Biden) which authorized the $10K deduction on 2020 received "benefits" extend that deduction for benefits paid/recieved in 2021?

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tax treatment of unemployment benefits received in 2021 (not 2020)

Extending that exclusion of federal tax for unemployment for 2021 would take another act of Congress.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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tax treatment of unemployment benefits received in 2021 (not 2020)

No. That exclusion was included in the American Rescue Plan and is only for tax year 2020.

tax treatment of unemployment benefits received in 2021 (not 2020)

Extending that exclusion of federal tax for unemployment for 2021 would take another act of Congress.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

tax treatment of unemployment benefits received in 2021 (not 2020)

Will the new 2021 legislation (by Biden) which authorized the $10K deduction on 2020 received "benefits" extend that deduction for benefits paid/recieved in 2021?

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