What is a 1099-G for unemployment - NYS Department of Labor tax form confusion
I got this form called a 1099-G in the mail from NYS Department of Labor and I have no idea what it's for. It shows like $8,200 in unemployment benefits I received last year but I'm confused about what I'm supposed to do with it. Do I need to pay taxes on my unemployment money? I thought unemployment wasn't taxable income but now I'm worried I owe the IRS money. Has anyone else dealt with this form before?
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Liam Fitzgerald
The 1099-G is a tax document that reports the total unemployment benefits you received during the tax year. Yes, unemployment benefits are considered taxable income by the IRS and New York State. You'll need to report the amount shown on your 1099-G when you file your taxes. NYS Department of Labor is required to send these forms to anyone who received more than $10 in benefits during the year.
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Mei Lin
•Oh no, so I owe taxes on all that money? I didn't have any taxes taken out of my weekly payments either. Am I going to owe a huge amount?
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GalacticGuru
You should have had the option to have federal and state taxes withheld from your unemployment payments when you were filing your weekly claims. If you didn't elect withholding, then yes, you'll likely owe taxes. The amount depends on your total income and tax bracket for the year.
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Amara Nnamani
•I remember there was a checkbox or something on the weekly claim form about taxes but I never understood what it meant so I just skipped it. Ugh.
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Giovanni Mancini
same thing happened to me last year!! got my 1099g and owed like $1200 in taxes because i never had anything withheld. make sure you keep that form safe because you definitely need it for your tax return
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Mei Lin
•Did you set up a payment plan with the IRS or did you have to pay it all at once? I definitely don't have $1200 sitting around.
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Fatima Al-Suwaidi
If you need to get a copy of your 1099-G or verify the information, you can log into your my.ny.gov account and access it through the NYS Department of Labor portal. Sometimes there are errors on these forms, especially if you had any overpayments or adjustments during the year. Double-check that the amount matches what you actually received in total benefits.
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Dylan Cooper
The whole unemployment tax thing is such a mess. Like they give you money when you're broke and then want some of it back for taxes. At least now I know for next time to have them take out taxes automatically if I ever need unemployment again.
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GalacticGuru
•It's definitely frustrating but unemployment is considered income replacement, so it makes sense that it's taxed like regular wages. The key is knowing ahead of time so you can plan for it.
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CosmicVoyager
If you're worried about owing a large amount, you might want to use a tax calculator online to estimate what you'll owe based on your total income for the year. Also, if you can't pay the full amount when you file, the IRS does offer payment plans - both short-term (120 days or less) and long-term installment agreements. Don't panic, but definitely don't ignore it either. File your return on time even if you can't pay the full amount to avoid additional penalties.
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