The IRS wants you to remember that unemployment benefits are considered taxable income. IRS Agent Michael Devine says with so many people receiving unemployment benefits in 2020 due to COVID-19, people who have never filled out form 1099G before will have to this year. At the same time, if you did not receive unemployment last year but you received a 1099G form, you might want to contact the IRS immediately…
Devine also says to make sure you include your stimulus checks in your taxes as well. Some people have already forgotten that they must include the 2020 stimulus payments on their taxes.
***Report Courtesy of farmweeknow.com***