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Green River Precision is small, but growing CNC machine shop in the Charlotte, NC area. We provide full service solutions for toolroom, prototype, short run and production manufacturing needs. GreenRiver is a graduate of Clemson University with BS and MS in Electrical Engineering and experience... More
  • No good deed goes unpunished 0 comments
    Jul 5, 2010 3:21 PM

    It has always perplexed me that no income taxes are withheld from unemployment benefits.  I suppose that, since unemployment compensation is usually at a much lower rate than full employment earnings, and that as originally implemented the maximum benefit period was 13 weeks, it really didn't have too terrrible an effect on the recipients tax position. 

    Unfortunately the duration of benefits has now been extended to as much as 99 weeks.   Imagine the consternation when people who haven't saved any of their benefits with which to pay their taxes.  They'll get socked with timely payment fees, late fees, interest and penalties.  They may end up owing a significant percentage of their total benefits in taxes and penalties;

    Disclosure: No positions

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