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President Donald Trump has signed executive orders to extend supplemental unemployment relief after lawmakers were unable to reach an agreement on a new stimulus package.
The orders come after the late-July expiration of federal unemployment benefits. Trump’s executive order extends enhanced unemployment benefits to the end of the year at a rate of $400 per week, with 25% paid by the state.
The CARES Act expanded unemployment benefits dramatically and provided an additional federal payment boosting state benefits. That boost, called Federal Pandemic Unemployment Compensation (FPUC), gave unemployed Americans an additional $600 per week, on top of their regular state unemployment benefits. FPUC expired at the end of July.
Use this calculator to estimate the weekly unemployment benefits you could qualify for under Trump’s executive order.
See the amount of weekly unemployment you could expect
Is this the exact amount I will receive?
No. This calculator shows the sum of maximum state benefits plus the boost included in the executive order. Not everyone qualifies for their state’s maximum benefit amount. Refer to your state’s unemployment website to determine its maximum benefit and qualification requirements. This calculator should be used as an estimate only.
Do I have to pay taxes on unemployment compensation?
Yes. Unemployment benefits are considered taxable income by the Internal Revenue Service (IRS). That means unemployment benefits are always subject to federal taxes, but state taxes on the benefits vary depending on the state you live in. When enrolling in jobless benefits, fill out a Form W-4V to request a flat 10% be withheld from your unemployment compensation. While that will cover many people’s tax obligations, depending on your total income, 10% might not be enough. Read more on dealing with unemployment benefits and taxes here.
How long will I receive the additional $400 weekly benefit under the executive order?
Those eligible would be able to claim the supplemental unemployment benefits retroactively from the week of unemployment ending Aug. 1, 2020, and it would be available through the week ending Sunday, Dec. 6, 2020, or until the balance of the Department of Homeland Security’s Disaster Relief Fund falls to $25 billion (from roughly $70 billion), whichever occurs first.
How do I apply for unemployment benefits?
Every state runs its own unemployment program. Find your state here in the drop-down box to learn how to apply.
What happens next for this “assistance program for lost wages”?
It remains to be seen how Trump’s executive order to extend unemployment benefits might play out. The order creates a program that requires states to contribute to the payments; states will need to work out how to implement these extra payments within their systems, and it may take time for states to secure the extra funding.
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