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Old 12-20-2009, 08:30 AM
 
244 posts, read 570,943 times
Reputation: 45

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OK, you guys can probably put this thread to bed quite fast. A lot of people have been gathering mixed information on the Federal tax situation on unemployment benefits for the 2009 tax year. A lot or rumors about additional breaks.

As we know, there was a tax break set in motion in the beginning of the year that said the first $2,400 of unemployment benefits that a NJ resident collected in 2009 would be federally tax free. ( I think it was 2400. around there)

OK, then a few weeks ago, some people in the forums discussed reading that there was a chance of the government enhancing that amount and some even said they heard the taxes might be waived totally this year (which I doubt). They were saying that it may be attached to a bill before the year ends but I don't know if there is any truth to that at all or any further information.

Does anybody know anything on this topic?

 
Old 12-20-2009, 02:05 PM
 
Location: New Jersey
165 posts, read 387,252 times
Reputation: 80
Check out this thread: Federal income taxes reduced on 2009 unemployment benefits

We have to wait and see how this pans out, keep fingers crossed (no doubts please). They have until April, it isn't an emergent issue to them. I am going to hold off sending any tax forms early (I do my own). I haven't worked at all this year, my numbers are so low, figuring out taxes will be interesting . Honestly, I wouldn't be surprised if they do suspend fed. tax for UI this entire year considering the situation.
 
Old 12-21-2009, 06:02 AM
 
244 posts, read 570,943 times
Reputation: 45
Thanks for that info! I looked at that post but..it is 6 months old. I am going to hold off myself until April like you are and hope for the best. If anyone else has some recent news, let us all know.
 
Old 12-22-2009, 08:01 AM
 
Location: New Jersey
165 posts, read 387,252 times
Reputation: 80
Quote:
Originally Posted by davenj2009 View Post
Thanks for that info! I looked at that post but..it is 6 months old. I am going to hold off myself until April like you are and hope for the best. If anyone else has some recent news, let us all know.
I just emailed NELP asking for the latest update as to bills H.R. 155 and S. 155 and any other information regarding the suspension of federal tax of unemployment for 2009. I will keep you updated as soon as I get a response. From what I found on Open Congress site, nothing was done on either since introduced and going to House Ways and Means Committee in Jan. I remember reading or hearing something recently about that issue being revisited by the Senate (I believe it may have been Sherwood Brown - Dem. - Ohio). Hope for the best!

Last edited by koalabear; 12-22-2009 at 08:20 AM..
 
Old 12-22-2009, 03:22 PM
 
244 posts, read 570,943 times
Reputation: 45
Thank you for that update. I appreciate it. Yeah, lets keep each other posted on any developments we read about. I did recall when the bills were proposed in January but was hoping there would be more action on it now. Ill keep my fingers crossed as well. Let me know if anything comes up!
 
Old 10-04-2010, 12:08 PM
 
1,296 posts, read 1,964,546 times
Reputation: 645
I think that state and federal taxes on Unemployment benefits, is an absolute ABOMINATION! UI recipients, are taxed TWICE. First, when they had jobs, they paid taxes into the UI system. Then again, the next time they file their tax returns. And if they don't have enough of a refund coming, to offset taxed owed on UI benefits that they may have collected during the year, then they're really SCREWED!

Remember, those that collect UI are doing so because they lost their jobs, through no fault of their own. UI benefits are always less than a person's former salary, so it's hard enough to survive on that money. Then, the state and feds want to turn around, and tax UI benefits. Talk about adding insult to injury! It's BRUTALLY UNFAIR TO UI RECIPIENTS!!

I never understood why they tax UI benefits, but not SSI, Welfare, Workers Comp, or Social Security benefits. Why they want to pick on UI recipients, and tax only their benefits, but not other types of benefits, is a mystery to me!

There needs to be a grass roots effort by UI recipients, to demand that taxes on their UE benefits, be immediately abolished!
 
Old 10-04-2010, 09:25 PM
 
Location: West Cobb County, GA (Atlanta metro)
9,188 posts, read 30,226,890 times
Reputation: 5131
Please see the room sticky at the top of the room for guidelines as to what is and what is not on topic for the room. Thank you.
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