TBC Information Network

Teal, Becker & Chiaramonte offering valuable insights, impressions and commentary on today's financial and business world.

New York State Tax Treatment of Unemployment Compensation

The American Rescue Plan Act of 2021 enacted by Congress allows certain individuals to exclude up to $10,200 of unemployment compensation on their 2020 federal personal tax returns.  New York State recently issued guidance indicating that the state is decoupled from this federal law, and therefore any unemployment compensation that is excluded from federal gross… [keep reading…]

Subscribe