- VOLUNTARY ELECTION OF TAX WITHHOLDING ON UNEMPLOYMENT INSURANCE FOR SOUTH CAROLINA
- FEDERAL PELL GRANT TO HELP THE UNEMPLOYED IN SOUTH CAROLINA
- South Carolina Employment Programs: Are You Work Ready?
- South Carolina Unemployment: SC Training Programs
- South Carolina Unemployment: SC Unemployment Training Programs
If you are a South Carolina resident and you have lost your job, you may be entitled to receive unemployment benefits from the South Carolina Employment and Workforce Department as well as access to valuable employment resources. This website will help you understand all the stages and procedures you need to be familiar with to benefit from what the South Carolina W&D has to offer.
To qualify for unemployment benefits in South Carolina you must take three main steps. This article will explain how the system operates and how you can make it work for you.
The second step you need to take to receive unemployment benefits in South Carolina, after filing your first claim, is to register for work. After all, helping you find a new job is the main purpose of South Carolinaâ€™s Department of Employment and Workforce. The good news is that you only need to register once and there are two simple ways to do it: online or in person at one of South Carolinaâ€™s Department of Employment and Workforce offices. This article will give you clear instructions on how to register for work.
If you fail to file your weekly claim, you will not receive your benefits. You can file online, personally at one of South Carolinaâ€™s Employment and Workforce department offices, over the phone on South Carolinaâ€™s TelClaim System or with a Pay Order Card. Learn how each of these methods works..
This website provides you with up-to-date news about the employment situation in South Carolina and how to apply for the benefits you are entitled to. Here are a few examples of articles on subjects you should know about:
The U.S. Congress finally approved the fourth extension of the Emergency Unemployment Compensation Program after keeping millions of unemployed workers on tenterhooks for months.
Most states offered 26 weeks of basic unemployment benefits. The Emergency Unemployment Compensation program offered up to 53 weeks divided between its four-tier system (click here for more information on the EUC program). The Extended Benefits program, allowed unemployed workers who exhausted their basic and EUC benefits to apply for an additional 20 weeks of extended benefits.
South Carolinaâ€™s Workforce and Employment Department is working hard to help the more than 232,000 unemployed workers in South Carolina. This, of course, includes providing workers with a temporary income while unemployed, but there is so much more we can help you with. You can learn about South Carolinaâ€™s WorkReady Initiative, its Employers Online Services, and the job seeking, retraining and education services you are eligible for.
If you are currently unemployed and receiving Unemployment Insurance, itâ€™s important to remember that just as when you were employed, this money is considered income and taxed by both the Federal Government and the State of South Carolina. However these taxes are not automatically taken out, which can leave you with a scary tax bill at the end of the year.
Even knowing this, it is probably very tempting at the moment to not put money aside from each UI check since youâ€™re going through a difficult time and most likely trying very hard to keep food on the table and your bills paid as you try to transition as quickly as possible to a new job.
However, it is much worse to realize at the end of the year that you owe the State and the Federal Government because the money required by them wasnâ€™t put aside to begin with. To avoid the temptation of keeping it all every week or not being sure of how much to take out, you can elect to have the money taken out of every UI check automatically, just as you were probably accustomed to when you were employed.
When you apply for your Unemployment Insurance, be sure to ask specifically that the necessary tax is withheld from each check. This will most likely be around 10 % for Federal tax and whatever additional percentage you choose to have withheld for State.
If you do not choose to do this, you should be aware that you may be required to make estimated tax payments. This would require finding the information in IRS Publication 505, Tax Withholding and Estimated Tax, or the instructions for Form 1040-ES to be sure of what is necessary in your case.
At the end of the year, you will be sent a Form 1099-G showing the benefits received during the year, as well as any tax that you have chosen to have withheld. This will of course also be sent to the State and Government, at which point, if you have had enough withheld, you will not be owing any money. Thatâ€™s certainly to be preferred over worrying about finding more money quickly just as you are back on your feet and moving forward in the work force, going to school, or still working hard to find employment.
So think seriously about electing to have Individual Income tax withheld each week from your Unemployment check in order to avoid problems at the end of the year.Newer Posts »