QUESTION

I am 66, retired and living on social security and for the past year have also been receiving unemployment. Do I have to pay taxes on the unemployment.

Asked on Mar 04th, 2011 on Taxation - Florida
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I am 66, retired and living on social security and for the past year have also been receiving unemployment. Do I have to pay taxes on the unemployment.
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1 ANSWER

Taxation Attorney serving Sarasota, FL
2 Awards
Unemployment benefits are considered income.  Therefore, you do have to pay taxes on these benefits.  You may want to consider having taxes taken out of the benefits before you receive them, just as you would have taxes withheld from your payroll.  That way, you should not have a large tax debt when you file your taxes on April 15th.  Alternatively, if it is possible you can pay estimated taxes during the year.  Regards, Mary E. King, Esq. www.taxlawyerflorida.com  or (877) SOS-TAX-LAW The response does not form an attorney-client relationship, nor should it be relied upon as legal advice.  
Answered on Aug 26th, 2011 at 3:56 PM

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