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In a memo released yesterday, the U.S. Labor Department states that workers who were asked to repay unemployment benefits received through the CARES Act might be able to get a refund, although it...
Your federal or state income tax refunds, disability or future unemployment benefits could also be seized to collect what’s owed. What to do if you receive an overpayment notice 1.
Certain credits are allowed with respect to state unemployment taxes paid that may reduce the effective FUTA rate to 0.8%. Effective July 1, 2011, the rate decreased to 6.0%. That rate may be reduced by an amount up to 5.4% through credits for contributions to state unemployment programs under sections 3302(a) and 3302(b), resulting in a ...
The IRS has finally finished issuing refunds to taxpayers who overpaid their taxes in 2021, when stimulus relief tied to COVID-19 provided tax breaks for unemployment benefits to millions of...
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Taxes under State Unemployment Tax Act (or SUTA) are those designed to finance the cost of state unemployment insurance benefits in the United States, which make up all of unemployment insurance expenditures in normal times, and the majority of unemployment insurance expenditures during downturns, with the remainder paid in part by the federal government for "emergency" benefit extensions.
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