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Just to add - if you end up owing more than $1,000 when you file and didn't pay enough during the year, you might get hit with an underpayment penalty. It's usually not huge but something to be aware of.
I had a similar situation and ended up talking to a tax preparer about it. They said the safest approach is to withhold 10% federal and then make a small estimated payment each quarter if you think you'll still owe more. Covers your bases without overwithholding.
this thread is super helpful... wish i had found something like this when i first filed. would have saved me a lot of confusion and stress
Make sure to apply as soon as possible after becoming unemployed. There's no benefit to waiting, and you want to get the process started.
Just remember that each claim has its own benefit year and maximum benefit amount. They don't carry over from previous claims.
this whole thread has been really educational. i'm in a similar situation with washington esd unemployment and taxes so thanks everyone for sharing your experiences
Just wanted to add that if you received unemployment from multiple states (like if you moved), the tax situation gets more complicated. But since you only dealt with Washington ESD, you're in good shape.
Miguel Alvarez
Update us when you get your first payment! Always curious to hear how long it actually takes for people.
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Ethan Brown
•Will do! Hopefully it'll be soon and I can give others a realistic timeline.
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Zainab Yusuf
The system definitely has room for improvement but at least once you're in it works pretty consistently. Just that initial wait that's killer.
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Ethan Brown
•Yeah the uncertainty is the hardest part. Thanks again everyone!
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Connor O'Reilly
•You'll get through this, we all have. The community here is great for support.
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