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Unemployement during covid


giogis245

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9 hours ago, Lion EA said:

Until about 15 March, unemployment is taxable. But if Biden's tax proposal passes about 14 March, you might be preparing amendments. I'm making my clients who had unemployment benefits wait to file or pay my full fee for amendments on a  FIFO basis.

I did not think this was in Biden's proposed bill.  I thought this was a separate proposal by Durbin and Axne.  I feel sure that Biden will go along if the bill gets any traction but i think it is a separate issue - or did they propose it as an amendment to his bill?

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Gail is right about the origin of the bill. However, there is a bill. And, any votes appear to wait until after impeachment and are marketed to be before the current extra unemployment expires 15 March. So, keep watch. And, you might consider suggesting waiting to file.

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