With the COVID relief bill that recently passed, is the $300 per week in unemployment benefits taxable, by state (CA) and/or federal? I can't find anything.
If so, how would someone have taxes withheld for any entity that requires a tax be paid?
My daughter will be receiving this benefit, but can't find any instructions about taxes/withholding.
TIA
I think they are.
I found a number of news articles warning that the $600 unemployment assistance in the first stimulus package were taxable, just like normal unemployment benefits. And nothing I found about the second stimulus says anything different about the new $300 benefits.
There are a handful of states that don't tax unemployment benefits.
On the other hand, the one-time $1200 checks are not taxable.
All unemployment benefits, including the $600/week and current $300/week, are taxable on your federal return if your income is in various tax brackets. The $1200 stimulus one time payment is not taxable. Most states will deduct for fed. taxes and state taxes if needed.
bw
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.