Contributed
Do you know anyone who has claimed unemployment this year? As of April 2020, over 23 million Americans filed for unemployment, and one out of four Americans received unemployment this year. We need your help to reach these individuals and make sure they know that unemployment is taxable income and that changes in income can affect the Premium Tax Credit for Health Insurance Coverage. We do not want taxpayers to be caught off guard when filing their tax return next year.
We have included flyers along with social media outreach for you to share with your clients, employees and fellow outreach partners. These flyers can also be found on the IRS website as Publication 5444: https://www.irs.gov/pub/irs-pdf/p5444.pdf. and Publication 5152 https://www.irs.gov/pub/irs-pdf/p5152.pdf and enclosed, other versions in other languages will be available soon on irs.gov.
We hope that you will:
- email the flyer to all of your e-mail contacts
- print and post the flyer in any high traffic areas you may have
- post the flyer to your website and
- share it to your social media outlets
It is our goal that, with your help, more people will know that:
- unemployment income is taxable
- they can contact their state unemployment office to have taxes withheld from ongoing unemployment payments
- if they did not have taxes withheld from unemployment payments, there are ways to pay on those taxes before the year ends
- they can use the withholding calculator https://apps.irs.gov/app/tax-withholding-estimator, and determine what they may owe
- that income changes can effect the amount of Premium Tax Credit you receive
About Author
