Z Score,T Score, Percential Rank and Box Plot Graph
Unemployment Benefits - Tax Free
1. Unemployment Benefits
were tax-free in 2020. Don’t
except that in 2021
By
Shaik Shaheed Juber Basha
AFB 2020-22019
Submitted to:
Mervin Felix Caleb
2. INTRODUCTION
➢The unemployment insurance system helps many people who
have lost their jobs by temporarily replacing part of their
wages while they look for work.
➢Created in 1935, it is a form of social insurance in which taxes
collected from employers are paid into the system on behalf of
working people to provide them with income support if they
lose their jobs
➢Millions of workers could owe ‘ Thousands of dollars per
family’ in unemployment benefits on 2020 taxes, Its according
to Galle and pancotti.
➢Those on unemployment don’t have to pay social security and
Medicare taxes
➢In some jurisdictions should have to pay federal income taxes
about 7.65% rate.
3. Eligible for Unemployment Insurance
• To qualify for unemployment benefits, a person must
be:
➢Have lost a job through no fault of his or her own
➢Be ‘able to work, available to work, and actively
seeking work’.
➢Have earned at least a certain amount of money
during a ‘base period’ prior to becoming unemployed.
4. Additional Benefits are Available
during Economic Downturns
Temporary
federal
program
Additional
permanent
program
Permanent
federal
state EB
program
5. Benefits Does Unemployment
Insurance Provide
➢Workers receive unemployment benefits from the state where
they were employed
➢They offer through for benefits - typically through the phone
or online - then state determines the person is eligible and
amount of benefits for qualifies.
➢The benefits provided to particular individual in two respects:
number of weeks that they last and their weekly dollar
amount.
➢Number of weeks: Some states simply provide the same
number of weeks of benefits to all unemployment workers.
➢In some states vary the number of weeks according to the
amount of workers past earnings