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Tax season has started, but the Internal Revenue Service (IRS) is warning that there may be delays in processing refunds due to the pandemic, several tax law changes and fewer employees. Taxes ...
This may come as a surprise to workers who got tax relief for the first $10,200 of unemployment income they received in 2020 — a one-year break provided by the American Rescue Plan ...
The IRS has finally finished issuing refunds to taxpayers who overpaid their taxes in 2021, when stimulus relief tied to COVID-19 provided tax breaks for unemployment benefits to millions of...
The American Rescue Plan made it so that up to $10,200 ($20,400 for married couples filing jointly) of unemployment benefit received in 2020 are tax exempt from federal income tax.
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
In India, there is a provision of refund of excess tax along with interest. For claiming a refund one has to file the income tax return within a specified period. However, under Sections 237 and 119(2)(b) of the Income Tax Act, the Chief Commissioner or Commissioner of Income Tax are empowered to condone a delay in the claim of a refund. [15]
As part of the American Rescue Plan stimulus relief bill that was passed back in March, up to $10,200 in federal taxes on unemployment benefits would be waived for people earning less than $150,000...
The Pacific Daily News ("PDN" as nicknamed by locals) offers readers the latest local headlines and stories covering Guam, Micronesia and the Pacific Rim region, along with breaking news from the United States and the world. Most of what the PDN covers usually involves political matters and issues affecting those living on Guam.