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Out of Work? Five Things You Should Know When Filing Your Taxes
March 16, 2010Many Americans found themselves out of work this past year, and high unemployment rates indicate it's still hard to find a job. If you've been out of work for some time, you may think you don't owe taxes or need to file a return, but think again. Higher amounts of unemployment compensation are taxable and there are credits that could get you money from the IRS. It's important to do a thorough job of completing your tax returns so you receive the refund you deserve or pay only what's needed. As the tax deadline nears, the Illinois CPA Society wants to be sure you're aware of these points when you file. Full release.