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The American Rescue Plan made it so that up to $10,200 ($20,400 for married couples filing jointly) of unemployment benefit received in 2020 are tax exempt from federal income tax.
The IRS Direct File program, which lets you prepare and file your federal return for free, is expanding to 25 states for the 2025 tax season. CNN Business 7 days ago The IRS will start accepting 2024 federal tax returns on January 27
The IRS is hustling to get tax refunds on unemployment benefits to thousands of Americans by the end of the year as the agency continues to dig its way out of a mountain of backlogged returns ...
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...
The Federal Unemployment Tax Act (or FUTA, I.R.C. ch. 23) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies. Employers report this tax by filing Internal Revenue Service Form 940 annually.
As part of the American Rescue Plan stimulus relief bill that was passed back in March, up to $10,200 in federal taxes on unemployment benefits would be waived for people earning less than $150,000...
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.