Tag: 1099

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If 2020’s economic downturn put you in the position of needing to apply for unemployment benefits, you may have been under the impression that those benefits were not subject to state or federal taxes. Unfortunately, that’s not the case, and the same is true for independent contractors and the self-employed individuals who applied for and…

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The Internal Revenue Service today urged taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get because of identity theft to contact their appropriate state agency for a corrected form. States issue Forms 1099-G to the taxpayer and to the IRS to report what taxable income, such as refunds or unemployment benefits,…

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