Don’t Forget to Pay Income Tax on Your Unemployment Benefits—Here’s How

If you are receiving unemployment benefits, you should know that those benefits are considered income and are therefore taxable. You may need to make a plan for paying the additional income tax so that you won’t face a large, surprise tax bill next April. This is always an issue facing people who receive unemployment benefits, but the situation is more confusing than usual in the midst of COVID-19.
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