2020 Unemployment Benefits Receive Federal Tax Break

2020 Unemployment Benefits Receive Federal Tax Break

Published on March 18, 2021. Article written by Adam Boatsman.

The new stimulus package includes a federal tax break on up to $10,200 of unemployment benefits earned in 2020. 

This is a little complicated, as we’re in the middle of tax season and some people filed before the announcement was made, but it could potentially save individuals thousands of dollars.

Encourage your employees to speak with their CPA about this issue, and be sure to reach out to us if this affects you personally. 


About the author:

Adam Boatsman is the Owner / Visionary at BGW Advisors.

CPA License: NC #34370

Learn more about Adam and the rest of our team on the Team page.

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