Unemployment Compensation is Taxable

On Tuesday, the IRS issued a reminder that unemployment compensation is taxable. Did you elect to have taxes withheld from your unemployment compensation? If not, you should fill out and submit Form W-4V, Voluntary Withholding Request, as soon as possible. If you are unemployed, you don't want to get in a large tax bill next year to add to your problems.

For more information, click the link below.

https://www.irs.gov/newsroom/irs-unemployment-compensation-is-taxable-have-tax-withheld-now-and-avoid-a-tax-time-surprise