If you received unemployment benefits this year, you must report the payments on your federal income tax return.
Here are four tips from the IRS about unemployment benefits.
For more information on unemployment benefits see IRS Publications 17, Your Federal Income Tax, or IRS Publication 525, Taxable and Nontaxable Income. You can download these free booklets and Form W-4V from the IRS.gov website. You may also order them by calling 800-TAX-FORM (800-829-3676).
TaxACT Free Federal Edition guides you through unemployment tax situations and helps uncover all your deductions and credits for your biggest guaranteed refund . Prepare, print and e-file your TaxACT Free Federal Edition return now.
Additional IRS Resources:
December 10 (Employees who work for tips)
If you received $20 or more in tips during November, report them to your employer - Details
December 15 (Corporations)
Deposit the fourth installment of estimated income tax for 2014 - Details
December 25 (Everyone)
Federal Holiday (Christmas Day) - Details