Unemployment benefits will once again have requirements and be taxable

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SPRINGFIELD, Mo. — Starting July 5, people who want to continue getting benefits, including the $600 of Federal Aid, will be required to do three work search activities every week.

Missouri Department of Labor and Industrial Relations Director Anna Hui said, “Those work search activities may include applying for jobs online or in person, attending job fairs or job interviews or a reemployment service or skills workshop.”

According to Hui, a week-waiting period will also return, and it’s time for employers and workers to talk about returning to work.

In Governor Parson’s briefing yesterday, Hui reminded people that unemployment benefits are taxable.

She also says those who are currently making more money on their benefits than what they would’ve earned from their regular job are going to be taxed higher.

According to Drury Accounting Professor Tiffany Cossey encourages people to prepare for this and should make sure their taxes are being withheld. If they aren’t, they should estimate how much they’re going to owe and hold onto their money.

Dr. Cossey said, “What they would wanna do is they would wanna save about six percent of that for the state of Missouri, if Missouri taxes are not already being withheld and put that back into an account to where they can access it when it comes time to pay or their tax, or if they don’t want to have to worry about it at the end, they can always make it as an estimated payment ahead of time.”

The $600 federal supplement will be available through July 25,2020.

Requirements for Missouri’s food stamp or snap benefits will also return July 1, 2020.

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