Unemployment Compensation is Taxable at Federal Level. Taxpayer receives 1099-G Form stating the Taxable Unemployment Income and Taxes Withheld by Jan 30 of the following year.
Union Benefits may also be Taxable. Generally, it is a good idea to withhold Taxes form the Unemployment Compensation to avoid future Tax burden. Fill out Form W- 4V to withhold Taxes from Unemployment Income.
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