I received money due to unemployment tax relief, do I have to pay tax on the money I received.

[newenglandpro]

Hello there!

If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200

Here’s a link from the IRS webpage with more details about it:

https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation#:~:text=If%....

Hope this helps! If not reach out to connect again!