Even unemployed must file taxes

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Unemployment benefits are an income source

Updated: Wednesday, 13 Mar 2013, 11:24 PM EDT
Published : Wednesday, 13 Mar 2013, 9:55 PM EDT

SPRINGFIELD, Mass. (WWLP) - If you thought no employer meant no need to file income taxes, think again.

Even if you're currently unemployed, you are obligated to file your taxes.

Unemployment benefits count as an income source, and they must be reported to the Internal Revenue Service.

Tax experts told 22News a lot of people end up paying more because they don't realize that unemployment benefits are taxable.

“The reason you do want to file is because there is an up to 25% penalty for not filing as well as interest in penalties for late payment,” Ray Maagero of Liberty Tax said.

The deadline to file your taxes is April 15th.

You can file online, or most tax preparers have extended hours to help people with their forms.

Even unemployed must file taxes

Unemployment benefits are an income source

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