Ask Terry Questions Will unemployment $600 make me owe the IRS when I file taxes next year

Will unemployment $600 make me owe the IRS when I file taxes next year

By Terry Savage on May 14, 2020 | Wild Card

I am receiving unemployment and I have them withhold taxes. I am wondering how the additional 600 is going to affect my taxes when I file next year. Is it going to put me in a situation where I’ll have to owe money to the IRS?

Terry Says

The $600 benefit is also taxable, so save some money because you will owe when you file next year.

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