Unemployment benefits are considered taxable income
Millions of Americans seeking unemployment benefits due to the coronavirus pandemic are getting a boosted payout.
If you qualify for unemployment benefits through your state, the extra money will be automatically added to your state benefits check or deposit and appear as one total amount. Early next year you'll receive listing the sum total of unemployment payments you received in 2020. You use this form to fill out your tax return and make sure you paid the right amount of taxes.
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