[JOSERD]

Good morning to all in forums


My question is ,I am currently pending un-employments benefits,should I check yes or no where it states if I like to have my taxes withheld from my unemployment checks.please reply when someone has a moment.thank you

Jose

[wnhough]

QUOTE, I am currently pending un-employments benefits,should I check yes or no where it states if I like to have my taxes withheld from my unemployment checks."---It dependsn on the amount of the unemployment benfits that you received.;for instance, your total unemployment benefits listed on your 1099-G, then subtract $2,400 from that amount. If you and your spouse file jointly and both received unemployment benefits, calculate the total amount of both of your total benefits received, then subtract $4,800 from that amount. The amount left over is the amount you should claim on Form 1040 to file and pay federal unemployment taxes.
Aso,as they are assessing your case. Your status and means will be taken into consideration in them making your decision, and this can take some time. However, If you wish, you may choose to have federal and/or state taxes(if applicable) withheld from your unemployment benefit payments when receivin'g them. You may request to have federal and/or state taxes withheld from your weekly benefit check and forwarded by EDD,employment development dept. I guess, to the IRS and the DOR of your state automatically.
As you know, depending on your tax status, you may be responsible for making estimated quarterly tax payments directly to the IRS and your state Department of Revenue, if applicable, for the amount of tax you owe.
Generally and probably, you must make estimated tax payments if you expect to owe, after subtracting withholding and credits, at least $1,000 in tax to the IRS and/or $400 in tax to the DOR.

[JOSERD]

wnhough

Thank you for your response.

I forgot to mentioned that I am claiming for myself,I am single and not married,and aldough I checked off one dependpent which is myself hopefully it shouldn't affect me. Will write back more next

[wnhough]

As single recipient, you need to subtract $2,400 from the amounton your 1099-G FORM. As said previously, If you wish, you may choose to have federal and/or state taxes(if applicable) withheld from your unemployment benefit payments when receivin'g them. It is up to you. As you know, your unemployment benefits are not subject to FICA Taxes, Soc. Sec. Taxes.