Did you receive unemployment benefits?

Did You Receive Unemployment Benefits?
Have the right tax withheld for 2020
• Do I have to report unemployment benefits on my federal income tax return?
Yes, any unemployment compensation received during the year must be reported on your federal tax return.
• How will I know how much unemployment compensation I received?
If you received unemployment compensation during the year, you should receive Form 1099-G from your state’s unemployment office.
• How will unemployment compensation affect my tax return?
If you do not have taxes withheld from your unemployment compensation, it could result in a tax liability.
• Can I have federal income tax withheld from my unemployment compensation?
Yes, you can choose to have federal income tax withheld from your unemployment benefits by submitting a Form W-4V, Voluntary Withholding
Request, to your state’s unemployment office.
• If I am no longer collecting unemployment benefits, how can I pay the tax due?
You can make estimated tax payments at www.irs.gov/Form 1040-ES and/or increase your withholding once you have a new job. You can check your estimated withholding using the calculator at www.irs.gov/W4app. See www.irs.gov/payments for more payment options.

According to The Bureau of Labor Statistics, over 23 million U.S. workers have filed for
unemployment this year nationwide. For the first time, some self-employed
workers qualified for unemployment benefits.
For more information, contact your state’s unemployment office and visit:
www.irs.gov/UC
Unemployment benefits are taxable
Unemployment benefits must be reported on your federal tax return. A record number
of Americans are applying for unemployment compensation due to the COVID-19
Outbreak. If you received unemployment benefits, as well as the additional $600 per

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