Portion of Unemployment Benefits Non-taxable

The IRS recently published information about the non-taxability of unemployment benefits. The American Recovery and Reinvestment Act of 2009 (or Stimulus Bill) has given individuals that are collecting unemployment benefits in 2009, the ability to exclude the first $2,400 of these benefits. The exclusion applies to each individual separately even for married couples filing. This exclusion applies only to benefits …

COBRA Model Notices Released

 The US DOL has released, on their website, the model notices for COBRA subsidy. The Department of Labor has just released their model notices for the COBRA subsidy available under the American Recovery and Reinvestment Act (ARRA). There are two formats of the General Notice, one full and the other abbreviated. Also drafted by the DOL and on their webpage …