$1,400 stimulus check or unemployment tax relief? American Rescue Plan creates a real tax headache for the jobless

Author: External Author | | Categories: Small Business Taxes , Small Corporation Taxes , Tax Preparer

The $1.9 trillion American Rescue Plan has inadvertently created a conundrum for the unemployed this tax season.

The pandemic aid measure, which passed the Senate on Saturday, offers $1,400 stimulus checks and waives federal taxes on a portion of unemployment benefits received last year.

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Original Article Source Credits:   CNBC , https://www.cnbc.com/

Article Written By:  Greg Iacurci

Original Article Posted on:  MAR 8 2021

Link to Original Article:  https://www.cnbc.com/2021/03/08/the-american-rescue-plan-creates-a-tax-problem-for-the-unemployed.html