It’s the time of year to start thinking about taxes — but the upcoming filing season is going to be a bit trickier for many Americans due to rampant unemployment, working from home and general upheaval due to COVID-19.
Here are a few pandemic specific conditions — good and bad — to be aware of. ___UNEMPLOYMENTUnemployment benefits are taxable income, which tax experts say may surprise some filers.
Workers are not required to have federal taxes withheld from their benefit payments. While people have the option to have the tax withheld, many do not.