IRS Fix Finally Complete for 2020 Taxpayers Who Claimed Unemployment
The IRS has finished automatically correcting 2020 tax returns affected by the unemployment compensation exclusion. Here’s what taxpayers should know.
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Taxes From A To Z: U Is For Unemployment Compensation
Sadly, a lot more taxpayers are trying to figure out the tax treatment of unemployment compensation these days… It’s helpful to understand a little bit of the history of unemployment compensation in order to understand how it functions (and how it’s taxed). The Social Security Act of 1935, also known as Public Law 74-271, created…