When does the additional $300 unemployment benefit begin?

Jobless Americans are worrying about their unemployment benefits.

Since the extra $600 weekly benefit disappeared, their income is significantly less. Those who are out of work depend on their unemployment income to pay their bills.

Recently, President Donald Trump issued a measure for $400 per week to aid Americans.

However, instead, it’s an additional $300 unemployment benefit. States should provide the extra $100, but it’s up to them to distribute this.

Eligibility

You may wonder, what are the requirements? In order to receive the additional $300 unemployment benefit, you must receive at least $100 a week in state benefits. Some Americans may not qualify for this additional benefit.

For example, states like Alaska will not issue additional benefits to self-employed individuals. Additionally, you must also be able to show that you’re unemployed, partially unemployed, unable or unavailable to work due to COVID-19.

Why can’t I claim it now?

Due to the FEMA’s Lost Wages Supplemental Payment Assistance, states can apply for assistance. However, FEMA must first approve the state and their application for assistance.

When claiming your weekly benefits you may see a similar message below.

As you may have seen reported, New York State has applied for the Lost Wages Assistance (LWA) program to provide enhanced unemployment benefits to New Yorkers. While we work to operationalize the program, please continue to certify weekly. We will provide updates on our website, on social media platforms, and directly to claimants through emails and texts. To allow your fellow New Yorkers to reach a rep for regular UI or PUA matters, please do not call the DOL to inquire about the LWA program at this time.

Above is the New York department of labor issuing their statement. This means, you can not yet claim your additional benefits until your state has been processed.

States that are eligible for additional benefits

The following states have been approved for the additional $300 unemployment benefit:

Alabama, Alaska, Arizona, California, Colorado, Connecticut, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Hampshire, New Mexico, New York, North Carolina, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Texas, Utah, Vermont and Washington state.

Luckily, for residents of Kentucky and Montana, they will be issuing $400 instead of $300. Click here for updates on the states FEMA has approved.

How long will it last?

The states will receive the additional $300 unemployment for a guaranteed three weeks. Nonetheless, it’s dependent on FEMA’s $44 billion budget in funding. It is also reliant on how quickly FEMA disburses the payments.

Once you’re eligible, you can claim your back pay dating to the ending week in August.

Claim unfiled tax returns

During this time, we advise that taxpayers file and claim their prior year tax refunds. For tax years 2017 and 2018, you can still claim your tax refund.

If you paid enough federal taxes to the IRS and are due a refund, it’s best to claim it as soon as possible. Use the 2017 and 2018 tax calculators to figure your refund before filing.

You can file with us by creating an account, entering your tax information, and submitting your account to us. Then, you can print, sign and mail your tax return to the IRS and/or state. Our tax experts are here to help.

Tags: $300 unemployment benefit, additional unemployment benefit, COVID-19, COVID19, e-file, efile, FEMA, file, lost wages, tax deadline, tax refund, unemployment benefits

This entry was posted on Tuesday, August 25th, 2020 at 8:08 pm and is filed under Tax Tips and Tricks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.