People Should Have Tax Withheld From Unemployment Now to Avoid a Tax-Time Surprise
Due to the Coronavirus pandemic, millions of Americans received or are currently receiving unemployment insurance payments, many of them for the first time. It’s important for these individuals to know that unemployment compensation is taxable. People can have...
10 Ways to Pick Yourself Up When You are Feeling Low
Life never runs entirely smoothly. Even so, there are times when people get hit with more than their fair share of disappointments. When troubles seem to be mounting up, it can begin to feel like everything you touch goes wrong. Of course, going through a bad patch...
Tax Treatment of Unemployment Benefits
The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits. Unemployment compensation includes amounts received under the laws of the United States or of a state, such as: State unemployment insurance benefits Benefits...
New Law Provides Relief for Eligible Taxpayers Who Need Funds From IRAS and Other Retirement Plans
The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain...
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