2007-01-15 08:49:57 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, there are no drawbacks such as your credit rating being hurt or anything like that. As long as you are drawing it in a legitimate manner and not defrauding the government, you should have nothing to worry about. Just be sure to strongly consider having federal taxes withheld from the checks and then don't forget to report it when you eventually file your taxes at the beginning of the following year! I have seen many people forget to report thousands of dollars they received in unemployment only to get a tap on the shoulder from the IRS reminding them about it over a year later. Not only do most of them elect not to have anything withheld, and so they owe a lot more in back taxes, but the IRS attach mucho penalties and interest.
2007-01-15 09:22:01 · answer #1 · answered by Mr. Zimmer 3 · 0⤊ 0⤋
No negative repercussions. Lots of people have a time when they're unemployed through no fault of their own - it no longer carries the stigma it might have years ago. In these days of company shutdowns, cutbacks and layoffs, many very competent people have spent some time unemployed.
2007-01-15 17:21:17 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Unemployment is insurance, There are no drawbacks.
You pay for it as you work,out of your check.
2007-01-15 16:59:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
nope its your money go get it
2007-01-15 16:57:23 · answer #4 · answered by mrdavidc1974 2 · 0⤊ 0⤋