$300 Unemployment Bonus Calculator By State – Forbes Advisor - Forbes

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Updated: Jun 10, 2021, 3:04pm
The most recent stimulus legislation, the American Rescue Plan Act (ARPA) includes another expansion of federal unemployment benefits.
Qualifying Americans will receive $300 per week on top of state unemployment benefits through Sept. 6, 2021.
Use this calculator to estimate the weekly unemployment benefits you could qualify for under the latest extension.
Disclaimer: This calculator uses the average weekly state benefit amount reported by the Department of Labor from January 2020 to November 2020 to calculate total unemployment compensation, along with details from the American Rescue Plan Act. You may be eligible for more or less than this amount. Use this tool as an estimate and consult with your state labor department to learn whether you qualify for unemployment.
We calculated the average unemployment benefit by analyzing weekly state data from January 2020 to November 2020 as reported by the Department of Labor. The benefit length and $300 bonus amount was based on information in the American Rescue Plan Act.
No. This calculator shows the average weekly unemployment payment in your state, plus the boost provided by the American Rescue Plan Act. You may qualify for more or less than that amount. Refer to your state’s unemployment website to learn more about whether you qualify and how much you might receive. This calculator should be used as an estimation tool only.
Normally yes. Unemployment benefits are considered taxable income by the Internal Revenue Service (IRS). That means unemployment benefits are always subject to federal taxes, but state taxes on the benefits vary depending on the state where you live. 
However, as part of the stimulus package, the federal government is forgiving taxes on up to $10,200 of unemployment benefits earned in 2020 for individuals earning less than $150,000. 
If you already filed your 2020 taxes, you don’t need to amend your return. The IRS is adjusting qualifying returns automatically in two phases. Nearly three million refunds were sent the week of June 7, and another batch of refunds is expected to be distributed later in June. The IRS will send a mailed letter to anyone whose return has been adjusted.
If you haven’t yet filed your 2020 tax return, If you filed for benefits in 2020, your state should mail you Form 1099-G, Certain Government Payment, which will include your total unemployment compensation received during the year. You’ll use this form to determine how much to adjust your tax return calculations in order to get the tax break.  
Any unemployment benefits you receive in 2021 are still subject to income tax.
Read more: IRS To Start Automatically Adjusting Tax Returns For Those Who Qualify For Unemployment Tax Break
If you’re receiving unemployment benefits now and want to avoid paying taxes as a lump sum when you file your 2021 tax return, fill out a Form W-4V with your state employment agency. On this form, you can request to have a flat 10% withheld from your unemployment compensation. While that will cover many people’s tax obligations, depending on your total income, you may need to pay more than 10%
The benefit started on March 15 and ends on Sept. 6. Like with previous federal unemployment extensions, the funds are allotted to cover a specific period of time. 
Many states have decided to end Federal Pandemic Unemployment Compensation (FPUC) and Pandemic Unemployment Assistance (PUA) early, citing concerns that the enhanced benefits will discourage people from looking for work. If you live in one of these states and get unemployment benefits, you may only receive unemployment benefits based on your state’s program, without the extra $300 per week.
The following states have announced they will end federal supplements early:
June 12: Alaska, Mississippi, Missouri
June 13: Iowa
June 19: Alabama, Indiana, Idaho, North Dakota, Wyoming, West Virginia, Oklahoma, New Hampshire,        Nebraska
June 26: Arkansas, Ohio, Georgia, Utah, South Dakota, Texas
June 27: Montana, Florida
June 30: South Carolina
July 3: Tennessee, Maryland
July 10: Arizona
July 30: Louisiana
Every state runs its own unemployment system. Find your state at CareerOneStop, the Labor Department’s jobs resource website, and it will route you to your state’s unemployment website where you can learn specific enrollment information.
If you’ve run out of benefits, you’ll still be able to qualify for this extension. This also applies to people who typically didn’t qualify for unemployment before the pandemic, such as self-employed drivers for companies like Uber, Lyft and DoorDash.
If you’ve been receiving unemployment for a long time, you may face a longer wait for having your benefits extended or restarted. People who have reached the end of their “benefit year” may require additional review from state labor departments before they can continue to receive benefits.
No one knows for sure, but health experts estimate that if the national Covid-19 vaccination program goes well, the U.S. may start to see a resumption of normal life by fall 2021. This may coincide with some economic recovery signs, including job creation, that would make it less likely that the federal government would step in with further emergency unemployment measures.


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