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August 20, 2020

This year, U.S. unemployment jumped from a historically low 3.5% in February to 14.7% in April and remained at 10.2% in July. The pandemic-induced spike impacted many long-term employees, especially workers in industries vulnerable to social-distancing mandates. First-time recipients are often surprised to learn that unemployment benefits are taxable. As such, the IRS reminds us, they are. READ MORE

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