Question

Unemployment delayed

Forum|Forum|4 years ago
February 26, 2022
1 reply
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I saw this posted before but there was another layer to the question. Wisconsin's process in paying out unemployment was delayed for a year. We were not paid until March of 2021. Which meant we missed being exempt from having to claim the 10,000 on taxes. There was nothing on our end that could be done. Now we have to pay in because it looks like we made all that money. Is there any feature on turbo tax that states its for income last year?

J

JillS56

No, if you received payment of your unemployment in 2021, then you report the income in 2021 whether or not it was for a time period in 2020. We operate on a cash basis which means we report the income in the year received and deduct the expense in the year paid.

S

sdolson80Author

Thank you. I understand how now how it works.

I think I will have to check into the state of Wisconsin as well. I know that hundreds of thousands of people were not paid until 2021 because of their inept system. I wonder if appeals are filed.