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Why do I have to pay more unemployment taxes if they're were deducted as I was receiving my weekly unemployment benefits?
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posted
February 6, 2021
5:15 PM
last updated
February 06, 2021
5:15 PM
2 Replies
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Why do I have to pay more unemployment taxes if they're were deducted as I was receiving my weekly unemployment benefits?
If you did not pay enough taxes on your unemployment during the year, you may have to pay additional taxes on it when you complete your tax return. The IRS considers unemployment income as taxable income, as do most states.
The difference between what your tax liability is and what you withheld is the amount you owe. Since you stated that you owe taxes, your tax bracket is higher than the percentage withheld on your unemployment.
TurboTax has a great tool that can help you withhold the correct amount of tax on your income sources. Please see Tax Bracket Calculator for a better estimate on what should be withheld.
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February 6, 2021
5:24 PM
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Why do I have to pay more unemployment taxes if they're were deducted as I was receiving my weekly unemployment benefits?
I understand now. Thank you!!
February 9, 2021
10:21 AM
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