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Is it true that Unemployment compensation benefits received are taxable to the person that receives them?
Yes - because it's classed as 'un-earned income'.
What else can I help you with?
Who is the payer for unemployment?
The employer pays the state through payroll taxes (or directly) and the benefits to the claimant is income taxable.
Which of these is the best description of a total compensation plan?
the wages and benefits an employee receives at a job...
Does severance pay make me eligible for unemployment in Pennsylvania?
The fact that you received severance pay, in itself, does not make you eligible for unemployment benefits. There are many reasons a person receives severance, including voluntarily leaving a job, so that is not a determinant.
Do your paycheck deductions help fund unemployment insurance?
No. Unemployment benefits are paid from a state fund that receives its input from a payroll tax, charged to the employer, never the employee.
How much tax deduction for 2009 unemployment benefits?
Under the American Recovery and Reinvestment Act, enacted last month, every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits when they file their tax return next year.
What is the unemployment tax rate?
Unemployment funds the state pays unemployment benefits from comes from taxes or other means the state collects from the employerr. For income taxes the unemployed person must pay, it depends on the state which collects income taxes, if any, and the Federal government which excludes the first $2400 received in benefits, but as it is taxable, it is accumulated with all other income the person receives and the rate he pays depends on the income tax bracket he is in.
Can one still collect unemployment if one receives a private artist grant?
This is a matter decided by the individual states as it related to their criteria for eligibility. In any case, all income received must be reported to the state for them to decide on the impact it has on the benefits.
If a person receives a settlement from auto accident will it affect unemployment?
It depends on your state's criteria regarding income while receiving compensation. While some allow it because it's not a source from the worker's previous employment income, most states still require you to report ALL income, regardless the source. If it does affect it, it usually offsets unemployment only in the week(s) received.
If someone receives unemployment is it illegal for that person to receive money from somewhere else for example an online business they own?
It depends on the state. Some consider an "owned business" means "not unemployed." Others allow it if the income is reported and it complies with the terms of the unemployment compensation you receive. Check with your state's unemployment office for clarification.
I have been receiving partial unemployment but applied for early retirement at age 62 recently and received my first benefit. Do I have to report this on my unemployment claim as earned income?
As of Spring,2011, only three states (Illinois, Louisiana, and south Dakota), offset their unemployment benefits by 50% of the Social Security benefits a recipient receives (see the Related Links below). The other 47 consider Social Security as unearned income and therefore not reportable. One does have to report it in the 3 mentioned, however.
What is a compensation package?
Sum of direct benefits (such as salary, allowances, bonus, commission) and indirect benefits (such as insurance, pension plans, vacations) that an employee receives from an employer. [businessdictionary.com]
Can you collect unemployment benefits and teacher retirement at the same time in Missouri?
If your teacher's retirement is classified as a pension, you need to contact your unemployment office for clarification. Certain pensions may reduce the amount of unemployment benefits a person receives.
