Democrats Aim to Reduce Surprise Tax Bills for Jobless

Democratic lawmakers introduced a bill Tuesday that would waive federal income taxes on the first $10,200 in unemployment benefits that would otherwise count as income. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

| TODAY Democrats Aim to Reduce Surprise Tax Bills for Jobless Democratic lawmakers introduced a bill Tuesday that would waive federal income taxes on the first $10,200 in unemployment benefits that would otherwise count as income. READ MORE > More Tips: Rule of Thumb: How Big Should Your Emergency Fund Be? Twice a week, we break down the logic behind financial rules of thumb. A general rule of thumb is to keep three to six months’ worth of expenses in an emergency fund, but you might need even more. Learn how to calculate the right amount. READ MORE > Private Payrolls Rise 174,000 in January More than reversing the decline in December, the number of people on private payrolls increased in January, though growth was still weak, a new report showed Wednesday. READ MORE > Home Prices to Keep Rising, Adding to Mortgage Costs Low interest rates have kept housing relatively affordable even as prices have risen, but next year will bring ballooning mortgage payments, according to Zillow. READ MORE > Unemployment Rates Haven’t Recovered in Most States 1 - That’s the number of states—just South Dakota—where the unemployment rate decreased measurably in December 2020 from one year prior, according to a recent report. READ MORE > The Tax Preparation Fees Deduction: Who Can Still Claim it? It used to be that you could deduct tax preparation fees as an itemized deduction, but only self-employed taxpayers can do so through at least 2025, subject to certain rules. READ MORE > Email sent to: [email protected] You are receiving this newsletter because you subscribed to The Balance Today newsletter. If you wish to unsubscribe, please click here A DOTDASH BRAND 28 Liberty Street, 7th Floor, New York, NY 10005 © 2021 Dotdash - All rights reserved. Privacy Policy.