Unemployment Benefit Can Burn You

So did you get your $1200 check from the Federal Government?

Hopefully, if you did, you realize that it is not “free” money. The $1200 “incentive” checks that many people received is actually characterized as an “early tax return benefit” by the Federal Government.

In other words, when you file your taxes that are now due on July 15th, the refund you hope to get will be $1200 less – because as far as Uncle Sam is concerned, he already gave you that portion. And yes, if the refund you and your wife are going to receive amounts to $2,300 … you will instead be owing the government $100.

You see,...