According to the Bureau of Labor Statistics, over 23 million U.S. workers have filed for unemployment this year. For the first time, even some self-employed workers also qualified for unemployment benefits. This is a record number of Americans receiving these benefits. Newrizons Federal Credit Union is helping to reach our members to ensure they are aware these benefits, as well as the additional $600 per week in corona-virus relief, may affect their federal income taxes.
For more information, please download this document:
Publication 5444, Did You Receive Unemployment Benefits?
It provides steps for individuals who have received and/or are still receiving unemployment benefits, to ensure their tax liabilities are addressed.