The numbers are surging of the recent unemployed. Can you imagine…you need your unemployment benefits…but there are some issues. There are some GOP governors say new rules on unemployment benefits would hurt their states so they aren’t going to accept a portion of the $787 billion recovery and reinvestment act signed into law this week. Can you imagine being one of those people who needs this money. Some of the Governors state that these benefits will lead to higher taxes on businesses in his state. However putting this on a personal level…if you need to qualify for unemployment benefits, you must be out of work through no fault of your own and be actively looking for a job. File for benefits as soon as you lose your job so you don’t miss out on any money. After the State checks you out and if you qualify, you normally receive your first check within three weeks of applying. However we all these are extreme times and delays should be expected. More than 4.8 million people were collecting unemployment benefits in mid January, the highest number since the Department of Labor started keeping track of these figures in 1967. Due to all the delays… you might want to consider even filing online. Some states are offering this option.
The kicker is …even you might need every penny, Unemployment benefits are taxable, but taxes are not automatically withheld. Can you imagine struggling and paying taxes on this…
Really where are we heading? What do you think?