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How Are Unemployment Benefits Taxed?

TheMotleyFool

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Because of the far-reaching effects of COVID-19, a record number of Americans have made claims for unemployment benefits.

If you're one of them, it's important to realize these benefits are not tax-free. You need to know what your IRS obligations are so you're prepared to fulfill them and live on what's left over.

Image source: Getty Images.

Source Fool.com

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