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  2. Unemployed workers could get a nasty surprise at tax time - AOL

    www.aol.com/finance/unemployed-workers-could...

    This may come as a surprise to workers who got tax relief for the first $10,200 of unemployment income they received in 2020 — a one-year break provided by the American Rescue Plan ...

  3. Nearly 5 million taxpayers to get money back from the IRS ...

    www.aol.com/news/5-million-taxpayers-money-back...

    The IRS said 5 million tax returns, filed by 4.7 million people, businesses, trusts, estates and tax-exempt organizations, are eligible, for about $206 per return. The IRS is waiving the penalties ...

  4. Taxes: IRS waives penalty for taxpayers with tax bills from ...

    www.aol.com/finance/taxes-irs-waives-penalty...

    Nearly 5 million taxpayers who have unpaid tax bills from 2020 and 2021 will have almost $1 billion in penalty fees waived by the Internal Revenue Service (IRS). The IRS announced penalty relief ...

  5. If you faced a tax penalty during the pandemic, the IRS may ...

    www.aol.com/news/faced-tax-penalty-during...

    The agency estimates 4.7 million individuals, businesses, trusts, estates and tax-exempt organizations are eligible for the penalty relief, representing $1 billion in savings to taxpayers, or ...

  6. Unemployment insurance in the United States - Wikipedia

    en.wikipedia.org/wiki/Unemployment_insurance_in...

    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.

  7. IRS to waive $1 billion in penalties for people and firms ...

    www.aol.com/news/irs-waive-1-billion-penalties...

    Taxpayers are eligible for automatic relief if they filed a Form 1040, 1041, 1120 series or Form 990-T tax return for years 2020 or 2021, owe less than $100,000 per year in back taxes, and ...

  8. Earned income tax credit - Wikipedia

    en.wikipedia.org/wiki/Earned_income_tax_credit

    For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero. [37] This is represented by the lightest blue, solid line (other lines are various other ...

  9. 'This is a gift': The IRS is waiving $1 billion in penalties ...

    www.aol.com/finance/gift-irs-waiving-1-billion...

    Nearly 70% of the individual taxpayers receiving penalty relief have income under $100,000 per year. Read more: 'It's not taxed at all': Warren Buffett shares the 'best investment' you can make ...

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