The millions of people who were unemployed this year may want to start planning now for tax season. Unemployment income is taxable.
If you didn’t already choose to have those taxes taken out, a CPA tells us there are other options.
You could get ahead of it and make an estimated tax payment for the fourth quarter.
The drop in income may also mean you’re eligible for other deductions and credits, like the earned income tax credit or the child and dependent care credit. Via- ABC News