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did any one else know this???

Did any one else know that if you got unemployment for a year cause you were laid off you will not receive the EIC tax credit on your income taxes and will probably owe money if you were on it for the full year???

 
mrssundin

Asked by mrssundin at 4:18 PM on Feb. 5, 2011 in Money & Work

Level 19 (6,722 Credits)
This question is closed.
Answers (8)
  • Yep. My Dad has been on unemployment for just over two years. He has been trying to find employment for those two years until he decided to retire. But every year he files his taxes he has owed the government. What kind of crap is that? They are living on minimum wage without an actual job and they OWE the government? Bullshit.
    JazzlikeMraz

    Answer by JazzlikeMraz at 6:02 PM on Feb. 5, 2011

  • I have gotten unemployment for 18 months and still was qualified for the Earned Income Credit. You do know you can have taxes for state and federal taken out of your unemployment checks? That makes it so you don't end up owing any money.
    tyfry7496

    Answer by tyfry7496 at 4:33 PM on Feb. 5, 2011

  • no, but I can understand that the unemployment may put you over the amount you can earn and qualify for EIC.
    tootoobusy

    Answer by tootoobusy at 4:20 PM on Feb. 5, 2011

  • You'll only owe money if you didn't have taxes taken out of your unemployment checks.
    Anonymous

    Answer by Anonymous at 4:20 PM on Feb. 5, 2011

  • So what happens to all those still stuck with out jobs and stuff and they no longer are able to recieve unemployment benefits?? Will they end up owing taxes when they file??
    mrssundin

    Comment by mrssundin (original poster) at 4:19 PM on Feb. 5, 2011

  • So the government is just keeping the poor, poor and on there system of welfare??? Wow that doesnt make sense to me.
    mrssundin

    Comment by mrssundin (original poster) at 4:22 PM on Feb. 5, 2011

  • Yes but even if it is taken it out it doesnt count as earned income, earned income is wages you got while working. Unemployment doesnt count as working wages even though they count as income on your taxes.
    mrssundin

    Comment by mrssundin (original poster) at 4:36 PM on Feb. 5, 2011

  • No I didn't know that. Talk about kicking people while they're down.
    Erica_Smerica

    Answer by Erica_Smerica at 1:42 AM on Feb. 6, 2011

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