In some circumstances, you will find that you don’t have to do anything. Should you have collected any unemployment benefits for any length of time in the year previous to the one you are in, the Department of Labor will automatically send you an unemployment statement in January. Another name for these statements is form 1099-G.
If you have underpaid your tax liability with the IRS, you will owe them money. On the other hand, if you have overpaid, you will get a refund once you have filed your tax return. To file your tax return you have two choices: You can either take it to a professional so it is done accurately on your behalf, or you can do it yourself, which is not difficult.
To do it yourself, download the IRS form 1040 from the IRS website, and enter all your information in the blue highlighted fields. When you come to the income section, you will need to enter the amount of unemployment benefits you have received; this is on your 1099-G Form on line 19. Under the payments section you will need to enter how much tax you have had withheld from that benefit. You will find that on Form 1099-G too, on line 61.
Fill in the rest of the form as you normally would, print it off, sign and date it, and mail it to IRS. You can find the right address on the IRS website. Different states and regions have different addresses to send to, so make sure that you get the right postal information in advance.
If you have underpaid your tax liability with the IRS, you will owe them money. On the other hand, if you have overpaid, you will get a refund once you have filed your tax return. To file your tax return you have two choices: You can either take it to a professional so it is done accurately on your behalf, or you can do it yourself, which is not difficult.
To do it yourself, download the IRS form 1040 from the IRS website, and enter all your information in the blue highlighted fields. When you come to the income section, you will need to enter the amount of unemployment benefits you have received; this is on your 1099-G Form on line 19. Under the payments section you will need to enter how much tax you have had withheld from that benefit. You will find that on Form 1099-G too, on line 61.
Fill in the rest of the form as you normally would, print it off, sign and date it, and mail it to IRS. You can find the right address on the IRS website. Different states and regions have different addresses to send to, so make sure that you get the right postal information in advance.
