Nicole
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I'm in training to become a tax professional [here in Ohio anyways] & i'm reading this out of my tax book & it says
Unemployment compensation is fully taxable. A taxpayer who recieves unemployment compensation may request that the payer withhold 10% of the benefits from each check to go toward his federal income tax liability. This is done by filing Form W-4V with the payer.
I don't know if it's different in different states but you could ask a tax professional in your area. But if you have withholdings then yes you should get money back but if you don't you might be paying in.
Good luck! |
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blulildevl
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You will probably have to pay taxes on your unemployment unless they are taking them out now. |
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Judy1
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Unemployment comp is taxable income. If you are having income tax withheld, and have more withheld that the tax liability you have when you prepare your income tax return, then you'd get the excess back. |
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stephenweinstein
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If you are having taxes withheld from your unemployment benefits, then you may (or may not) receive some of that money back when you file.
If you worked in 2008 (prior to becoming unemployed), then you may (or may not) receive back some of the money that was withheld from your paycheck and may (or may not) receive the earned income credit.
If you did not work in 2008 and did not have any taxes withheld in 2008, then you would not receive a refund. |
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You will get a refund if it is due you because you piad more taxes than you owed. But you will not get a larger refund because of unemployment. The IRS only considers your income including unemployment, and what taxes you owe. |
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ittsparkles
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Did you pay any taxes in 2008? If you had a job then lost it you are may receive some money back at the end of the year, depending on your filing status and situation. However, unless you are allowing them to take taxes out of your unemployment you will most likely get more back at the end of the year. If not then you will get less back at the end of the year to pay back the taxes you didn't let them take out of your unemployment. |
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Christina B
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I dont see why not if you worked at the beginning of the year. IF you get tax take out of your unemployment checks then I dont see why not. I personally would ask a tax person just to make sure especially if you are planning on filing your taxes yourself! |
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John B
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That would be a big NO. In Massachusetts anyway. Unemployment is pre tax. You have to pay taxes on what ever you have drawn on when you file your tax returns. |
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Svetlana M
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I don't think so |
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spitfire9631
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i could be wrong, but i dont think it has anything to do with your taxes. maybe you should contact your unemployment office. they would know. |
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Garrett S
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The only thing i could think of for unemployment is the amount you had recieved to how much of it was taxable. you remember that when your paychecks were up to a certain number that barely any taxes were taken leading to end of the year making you owe instead of getting anything back. |
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