New Yorkers are required to declare state taxes on money received from the pandemic

Sensata Technologies Reports First Quarter 2021 Financial Results

Source www.silive.com For more information on the 1099-G tax form, click here.

The benefits paid to New Yorkers are considered taxable income. This form must be included in one’s tax filing for the 2020 calendar year. The 1099-G tax form includes money received from Unemployment Insurance (UI), Pandemic Unemployment Assistance (PUA), Pandemic Emergency Unemployment Compensation (PEUC), Extended Benefits (EB), Federal Pandemic Unemployment Compensation (FPUC), and Lost Wages Assistance (LWA).

New Yorkers do not have to file federal taxes on the unemployment they received. The 1099-G tax forms include the total amount of money one was paid in unemployment benefits in 2020, along with adjustments or tax withholdings made to the benefits.

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