What Coronavirus Relief is Taxable and What Is Not

1040 U.S. Income Tax Form
1040 U.S. Income Tax Form (Photo credit: IRS.gov)

Unemployment benefits including the $600 weekly assistance are taxable.

Unemployment benefits are taxable at the state and federal level including Arizona.

You can choose to have taxes withheld. This will help to avoid a big tax bill next year.

According to USA Today, the $1,200 coronavirus-relief payments ($2,400 if you are married) are NOT taxable.

It will also not cut into your refund next year.

Have you received your coronavirus-relief payment?