Tag Archives: unemployment compensation
Taxpayers who earned less than $150,000 in modified adjusted gross income may exclude unemployment compensation up to $20,400 if married filing jointly and $10,200 for all other eligible taxpayers. For those taxpayers who already have filed and figured their tax based on the full amount of unemployment compensation, the IRS will determine the correct taxable […]
— Read moreEven if you received unemployment compensation during the year, you may still be able to claim the Earned Income Credit. However, you’ll need to meet a few requirements first. The EIC, as its name suggests, require you to have “earnings”, sourced from the act of providing services in exchange for compensation – for example: employment. […]
— Read more
