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Unemployment benefits tax free for 2009
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The 2009 Recovery Act has created some relief for taxpayers who will receive unemployment benefits during 2009. Every person who receives benefits in 2009 is eligible to exclude the first $2,400 from taxes when they file their tax return next year. The exclusion applies to married couples as well and is applied separately. See the news release for more information.
Check out more benefits of the 2009 Recovery Act including $250 for each social security recipient and money back for new vehicle purchases in 2009.
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Tom Taylor, CPA is a fee-only, independent Financial Planner and Certified Public Accountant and can be contacted at Thoma Capital Management in Towson, MD. He is a member of NAPFA and the MACPA.
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