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Unemployment compensation becomes taxable for many workers
Unemployment payments, previously tax exempt, are now taxable. Form 1099 UC will be issued to all recipients, who must report the amount on their tax return and compute taxable portions on a worksheet. The calculation uses filing status with specific subtraction amounts and rules for various statuses including married and single.
MENTIONED IN THIS ARTICLE
Ray DeCrane
The
Southern Illinoisan
P.O
Radio City
New York