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Posts tagged "tax"

Are Unemployment Insurance Benefits Taxable?

It's tax time, and workers who collected unemployment in Wisconsin in 2012 are wondering whether they owe any taxes on their benefit payments. In short, they do. In 2009, the first $2,400 of unemployment insurance payments was exempt from federal income tax. The reprieve was only temporary, however. Like most sources of income, all unemployment payments have been taxable at both the state and federal level in Wisconsin since 2010.

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