Will I Receive A Tax Refund If I've Only Collected Unemployment In 2008?


5 Answers

Ray Hueston Profile
Ray Hueston answered
Unemployment benefits have only recently been exempt from the federal government taxations. However, within 2008 they were still taxable. You will be able to receive a tax refund if you have the correct files and forms, although it may be easier to have someone do these for you to ensure that you are refunded the full amounts. As tax can be difficult to understand, if you have collected unemployment in 2008, it will benefit you to research and find out about how and why the federal government has taxed your unemployment so you don’t feel like you have been cheated out of any money.

There are many arguments surrounding the reasons why collected unemployment shouldn’t be taxed. Firstly, people argue that the unemployment support you receive is near the poverty line of income, making it already difficult for you to sustain yourself and pay bills. However, the other side of this argument is simple: Those who are capable of work should be looking for a job while they are collecting unemployment. If the income from the benefit is good, you will not feel pressured to immediately find work as you can survive comfortably, and this is commonly known in economics as the ‘unemployment trap’.

As there as always been disagreements on the subject, there has no been a movement to try and avoid further conflicts. For benefits after the tax year of 2009, collected unemployment will now not be taxed for around the first $2,000 that you will receive, this is to ensure that you can live and pay bills, but to also encourage you to find your own source of income once you will begin to be taxed.
Anonymous Profile
Anonymous answered
I was receiving unemployment and Taxes 1600 in taxes was taken out. Will I be able to ge that money back
Steven Vakula Profile
Steven Vakula answered
Individual usually receive tax refund if they paid in more than they owed for the tax year. This refund can also be enhanced by such items as the Earned Income Credit and related tax items that are supplemental and depending on your filing status and economic condition will vary in amounts. In most instances unless you are having taxes withheld on you unemployment and on how much you receive you could very well end-up owing taxes. There are numerous variables that enter the picture so you could seek out a qualified CPA or tax preparer for the truth of your taxing issues.
erik hubbard Profile
erik hubbard answered
From my experience I have filed my taxes with only unemployment,,,and your answer for your question now or even later...... YES,,,,, you will receive if you file just make sure you had them with hold for taxes,if you didn't oooooppppppsssssssss your fault, so always with hold taxes ,americans got to pay for our freedom, I thought you knew that maybe not good luck hopefully this year is easyer on you .

Answer Question