New Jersey Unemployment

March 15th, 2007 Posted by Amelia

By the middle of February, every who collected 2006 unemployment benefits in New Jersey should have received a 1099 form. The statements were sent out in late January. The New Jersey Department of Labor should be contacted if that form is not in hand. The 1099 details the income and deductions from unemployment benefits. Thousands of people in the state collected unemployment in 2006, totaling over $156 million in benefit payments.

If you or someone you know has ever been laid off, you know what a toll it can take on a person. Losing your job is nowhere near an easy experience. The government has provided us with a program that can deliver income during this time of crisis. That is called unemployment insurance.

Filing for unemployment can be done in person and sometimes online. Details about the company, length of time with the company and reason for separation will be asked. It can be a lengthy process depending on the situation. One of the requirements to receive the benefit is to be in active pursuit of work. This is so that the people who truly want to work but are having a hard time can be helped.

The New Jersey Dept. of Labor wants benefits obtainers to be reminded that unemployment is taxable. If the deductions were not taken from unemployment checks automatically, it is the recipient’s responsibility to pay the necessary taxes on the money. To file the unemployment income along with regular income taxes, the 1099 is provided. It is easy to forget about the taxes on this benefit. This is especially true of those who may have only gotten payments for two weeks.

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