What would you like to do?
What year did unemployment benefits start to be taxed?
No and If you did not have any other worldwide income you would not be required to file a income tax return. ans The above is incorrect. You may well have no job or unemplo…yment and have many reasons and needs to file. For example a stock trade. A sale of an asset. interest or dividend income. MANY reasons. Also, filing a return when you don't owe tax is a GOOD thing. Why wouldn't you want to do it? You think tyhr IRS says OK not to file if its good for you? Or good for them!
Franklin D. Roosevelt implemented the unemployment system in response to poor economic conditions and joblessness during the "Great Depression".
Is a federal/state program started in 1936
No, it is optional, You can avoid a big lump-sum tax bill on April 15 by paying quarterly estimated taxes on your unemployment income. A new legislative bill called the "JOBLE…SS STUB 2009 TAX FREE ACT" (STUB meaning Stop Taxing Unemployment Benefits)is being launched. The web site at Unemployment Gone Mad serves a community of activists and supporters and the bill plan proposal makes all Unemployment Benefits received in 2009 tax free, not just the current IRS $2400 deduction. If the bill passes it will change everthing so stay tuned in for updates
If you are receiving unemployment benefits and then start receiving Social Security Disability Benefits can you still collect unemployment?
The reasoning behind the Disability Benefits program, is to grant a monthly check to those people who are "no longer able" to perform the duties required to hold their job, or… work due to some medical issue. But Unemployment Benefits should be paid when a person finds themselves without a job, but still "perfectly able" to work if they could only find a job. The process seems to work so the person receiving the unemployment benefits must be actively seeking work. So, paying both benefits to the same person wouldn't seem reasonable, they are at odds, one paying because you can't "do the" work another paying because you can't "find" work. Another Answer: Yes, you can get both at the same time. This is a very confusing issue. But as explained above, the two are different types of income, and neither one is "wages", and that is what makes it so that one does not affect the other by definition. It seems counter-intuitive, but the bottom line is that neither Unemployment Compensation nor Social Security Disability Income affects the other. You can get both at the same time. Unemployment compensation is not earnings or wages, you are not receiving it for being an employee or having employment. SSDI income is also not work. You do have to report the income on taxes at the end of the year, but it is not wages, so you do not have to report it as work to the Unemployment office. One way to think of it is, if it is listed on a W2, then it is work. If it is taxable income but not work, it will be on the W9. The US Government definition of earned wages for disability purposes is: "For purposes of determining whether Social Security benefits are payable, a person's earnings for a taxable year are the sum of pay for services as an employee plus all net earnings from self-employment (minus any net loss from self-employment) for that year." For unemployment benefits, even though you received SSDI, that is not earned wages, and you were available to work. You just were unable to find a job that you could do with your particular disability. But you were available and you were actively seeking employment that you would be able to do with the disability. The disability rules about allowable amounts of wages that one can earn in a trial period without affecting benefits does not come into play. Unemployment benefits are not wages. See the related links section below for links to this information at the US Government Social Security site Check your state in the Related Link below for more information.
What do you do in Michigan when your benefit year for unemployment benefits is about to expire and you are still unemployed?
If the U.S. Senate determines to continue to fund the unemployment benefits this week, residents will continue to be able to receive their federally funded unemployment benefi…ts, as if nothing happened. If you happen to be one of the many Michigan residents who are unemployed and are receiving unemployment benefits and you now have questions, call your local unemployment office. They will better be able to explain what you will qualify for and what you will not be receiving at this point. Rumors do fly in situations like this; however, find out the facts before taking everything that you hear to heart.
i tink it was 1773, i dont know cause thats what i read somewhere you might want to look more on it but... im pretty sure it was 1773
You should file for unemployment in both states, advising each of them about your work in the other state. Because of the interstate unemployment benefits agreement among stat…es, they should work out the differences between them so you are not over-claiming and thus possibly guilty of unemployment fraud. Most states require reporting earnings in the first 4 quarters of the last 5 complete quarters, so your 2 years would fall in that window.
No, The furthest back any state will go and allow benefits is base years starting 4 of the last 5 complete calendar quarters, from the date of application.
Anyone can file taxes. You can only get a refund if you overpaid taxes during the year or qualify for some refundable tax credit such as the Earned Income Credit or the Addi…tional Child Tax Credit. The most likely reason you might get a refund would be if you had taxes withheld from your unemployment compensation.
It started in 1966. Purchases under 15 cents saw no sales tax. I remember as a kid buying 3 packs of Kool-Aid mix at 5 cents each and being charged a penny for sales tax, brin…ging the total to 16 cents. I only had 15 cents so I purchased 2 packs in one transaction and the third pack in another transaction. Its amazing how quickly a child begins to understand economics.
In Ohio are you allowed to withdraw after tax distribution from a 401K after you have started drawing unemployment from the same company you worked for without disrupting your unemployment benefits?
I took money out of my 401K and lost my benefits for a five months. So did any of my group who were laid off who took any money out. We are all from ohio. I am not sure …how the person who answered yes could have gotten around this. We were all senior employees and it was old money. Didn't matter. If you took any of it, it off set our unemployment.