Unemployment Benefits: Avoid an Unwelcome Tax Surprise

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2020 has been a year of turbulence and has created chaos for many Americans including governmental issued shutdowns, quarantines, social distancing and potentially filing for unemployment. Both the United States and the State of Iowa set records for unemployment claims during the 2020 COVID-19 pandemic. Unemployment claims are down from the initial surge, but remain high compared to traditional levels as Congress continues to try to find ways to help distressed individuals and businesses. This blog is aiming to provide some clarity on the taxation of those unemployment benefits to prevent already distressed individuals from receiving additional bad news next tax season.

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Perfect Vision: How to be ready for a year like 2020

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What a year it has been. I no longer believe that “2020” is perfect vision, because I don’t think any of us saw this year coming…no matter how good your vision is! It’s definitely been a year packed full of challenges, frustration and uncertainty – on so many levels. 2020 has brought with it an element of change for all of us.  It has forced us to modify the way we work, the way we learn, and the way we play.

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