Tax Tip No. 4: Surprise - It's Taxable!
Tuesday, May 22, 2001
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No matter how much money you think you made last year, you can bet Uncle Sam thinks you made more.
It may not make sense to you and it may even sound like you're being double taxed. But the federal government wants its cut of just about all of your income no matter where it comes from, even when it comes from the federal government.
So get ready to pay taxes on:
Social Security - up to 85 percent depending on your income
Unemployment compensation disability if the premiums were paid by your employer
Alimony
Jury duty
Some state and local tax refunds
Gambling winnings
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