If you received unemployment benefits last year, remember in preparing your 2009 tax returns that the first $2,400 of those unemployment benefits is tax-free income.
Under last year’s American Recovery and Reinvestment Act (ARRA), every person who received unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits when they file their income tax return this year.
For a married couple, the exclusion applies to each spouse individually.
Source: IRS.gov
