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Reply to "Unemployed and paying taxes"

Hi MzDez,
I'm not a CFP but here's what I know.
People earning under $72,000 can file Federal Taxes for free with an IRS provider. I don't know about your state taxes.  https://apps.irs.gov/app/freeFile/
Congress passed the latest Covid relief act in March and part of that bill was that unemployment up to about $10,200 was to be tax-free for last year.  If you had taxes taken out, you will get that refunded when you file.

I don't know anything about the 401k parts of your question. Perhaps it would be better to work with a tax professional to make sure all of your questions are answered correctly.

Last edited by GinaH
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