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May 3, 2021
Question

If I owe a federal income tax payment for 2020, but I had unemployment income, should I still make the payment?

  • May 3, 2021
  • 1 reply
  • 0 views
I had over $15,300 in unemployment income in 2020. My AGI was $24,628, and I owe a $420 payment. I filed for a payment plan, and my payment will be due by 6/25.  The Unemployment tax break will definitely affect my AGI, so - should I still make the $420 payment?

1 reply

ColeenD3
May 3, 2021

Yes. The IRS will adjust the plan, but it is always better to be on the conservative side to avoid a possible penalty.