If you were laid off on March 15th, made the avg wage in your job, & received the avg UI for max weeks, your tax liability will be $2180.
Withholding during your job will only have been $926. Since UI withholding is opt-in you prob withheld $0. You'll owe $1254 on 4/15/21. https://twitter.com/ddayen/status/1339595739962298370
Withholding during your job will only have been $926. Since UI withholding is opt-in you prob withheld $0. You'll owe $1254 on 4/15/21. https://twitter.com/ddayen/status/1339595739962298370
This isn't just an issue for "high-paying" jobs. Average workers will owe >$1000 in federal taxes, and in most states, UI benefits are subject to state income tax.
These bills will be due weeks after the new UI cliff and millions of workers will be without any income.
These bills will be due weeks after the new UI cliff and millions of workers will be without any income.
I know taxes are very boring but this is a very big problem and I am going to continue to scream about it util somebody decides it's a sexy enough project to fix it.