Don’t Pay Tax on Unemployment Benefits

Wasson and ThornhillUnemployment Benefits

income tax forms

Photo by Kelly Sikkema on Unsplash. Did you receive unemployment benefits in 2020? 1 in 4 Americans did. Under the American Rescue Plan you don’t pay tax on the first $10,200. Unemployment Benefits Are Generally Taxable As the IRS states plainly, “[i]f you received unemployment compensation during the year, you must include it in gross income.” Unemployment Compensation, IRS Topic … Read More