As you know after CARES Act provided for unemployment insurance for gig economy workers, freelancers, and contractors like me, I was eagerly looking forward to learning more and trying to figure out the documents required to file for unemployment benefits.
Well, this morning the Commonwealth of Massachusetts started to accept applications for pandemic unemployment assistance for self employed workers in the state, and I applied promptly. This was the first time I have applied for unemployment insurance in my life -- I am in my 50s. So, it was a bit scary to do not knowing what to expect.
To my pleasant surprise, especially after reading about how other states in the country are struggling to implement this program in a time of great need, the process couldn't be easier. It is the standard information that is required. The only thing that is a little complicated for us is the income.
It is very important that you file your 2019 taxes even though the deadline to do so is now July 15. Why? The so-called Schedule C will have that information -- Line 31 Net Profit -- and you simply enter that when asked. My guess is that the State will simply confirm that by accessing your state tax return (Line 6a on 2019 Form 1) and we will not need to provide documentation like 1099-Misc, invoices, bank statements, etc.
Obviously, if you cannot file your return then you will have to do the calculation yourself (I do my taxes using TurboTax and do not have an accountant) and provide documentation to support it.
How much can I expect? Unlike other states (which are giving only half the benefits), Massachusetts is treating us like all other claimants and we will get the full benefits. Till July, we will also see $600 FPUC payments so most citizens will be getting about a thousand bucks a week.
Approval timing: I am expecting that this will take several weeks to be processed but I will be posting updates here.
Well, this morning the Commonwealth of Massachusetts started to accept applications for pandemic unemployment assistance for self employed workers in the state, and I applied promptly. This was the first time I have applied for unemployment insurance in my life -- I am in my 50s. So, it was a bit scary to do not knowing what to expect.
To my pleasant surprise, especially after reading about how other states in the country are struggling to implement this program in a time of great need, the process couldn't be easier. It is the standard information that is required. The only thing that is a little complicated for us is the income.
It is very important that you file your 2019 taxes even though the deadline to do so is now July 15. Why? The so-called Schedule C will have that information -- Line 31 Net Profit -- and you simply enter that when asked. My guess is that the State will simply confirm that by accessing your state tax return (Line 6a on 2019 Form 1) and we will not need to provide documentation like 1099-Misc, invoices, bank statements, etc.
Obviously, if you cannot file your return then you will have to do the calculation yourself (I do my taxes using TurboTax and do not have an accountant) and provide documentation to support it.
How much can I expect? Unlike other states (which are giving only half the benefits), Massachusetts is treating us like all other claimants and we will get the full benefits. Till July, we will also see $600 FPUC payments so most citizens will be getting about a thousand bucks a week.
Approval timing: I am expecting that this will take several weeks to be processed but I will be posting updates here.