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Category: Unemployment Insurance – Tax Exclusion

March 18, 2021COVID Stimulus, Unemployment Insurance - Tax Exclusion

Unemployment Insurance Compensation Exclusion for 2020 Tax Year

The IRS recently announced that taxpayers can exclude up to $10,200 of their unemployment compensation they received in 2020. This means that $10,200 of your unemployment compensation received in 2020 is not subject to Federal Income Tax. This was a provision included in the recently passed American Rescue Plan Act of 2021.


Barry D. Ivy
Certified Public Accountant

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