Taxation of Unemployment Benefits
Description:
Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. Legislation was introduced in the 108th Congress that would have repealed the taxation of UC benefits, provided a two-year suspension of the taxation of UC benefits, or transferred the proceeds from …
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Date:
January 14, 2005
Creator:
Scott, Christine
Item Type:
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Report
Partner:
UNT Libraries Government Documents Department