Tier 5 unemployment extension outlook grim

Be interesting to see what king of parlor tricks Obama's lackeys engage in to keep those census workers on the government payroll as long as possible. I would guess they won't be officially let go until some time in mid-November.

 

They've been told June or July at the latest.

 

The thing about unemployment that us working stiffs don't realize is they don't withhold income taxes and you're still on the hook for them. So your friends on the dole have a rude awakening coming.

 

How rude is it, though?

If you go an entire year on unemployment, you'll likely make less than $15,000. Would be almost impossible to be hit with income tax at that low income. Standard deduction, personal exemption and other credits will wipe most taxes out.

 

I am having federal taxes taken out of my unemployment checks.

 

Same here.

 

Which, in my opinion, shouldn't happen.

However, don't you get that money back at tax time?

 

When does Starman's riot start?

 

Yeah, it makes no sense to tax unemployment payments.

 

Freeloading should be tax-free.

 

Depends on the filer, naturally.

I received a pretty big refund this year, but part of that is due to certain life circumstances that increased my deductions.

 

Obviously if you're only on unemployment for part of the year you're going to pay taxes on your non-unemployment income but any taxes you pay on your unemployment should be credited to you when you do your return.