Tuesday, January 19, 2010

UNEMPLOYMENT INSURANCE - OVERPAYMENTS

At the Department of Labor website, there is not too much information on overpayments. Here is from the FAQ entitled "After You've Applied For Unemployment: Frequently Asked Questions":

"Q: If I repaid an overpayment will it appear on my form 1099-G?

A: Yes, provided the repayment was received by the Department of Labor during that tax year. If you did not receive any unemployment compensation during the previous calendar year, but repaid an overpayment of benefits, the Form 1099-G is sent to you as the information may be helpful to you in filing your return. Please note that only cash repayments are reported on Form 1099-G. Benefits taken from your claim to repay an overpayment are not cash repayments and are not included in the form."

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