1. Careers
Send to a Friend via Email
Alison Doyle

Unemployment and the Fiscal Cliff

By November 14, 2012

Follow me on:

There are many significant tax changes involved with the fiscal cliff which will happen on December 31, 2012 unless Congress is able to compromise prior to the end of the year.  One of the major changes is one that will impact millions of unemployed workers.

There will be no federal extended unemployment benefits in place for 2013.  Unless Congress acts to reauthorize the Emergency Unemployment Compensation program (EUC) no benefits will be payable to any unemployed worker effective January 1, 2013.

Unemployment benefits have already changed significantly for 2012, with benefits being cut for many laid-off workers.  Without legislation to extend unemployment, millions of people who are collecting extended unemployment will see their benefits stop at the end of the year.   Workers who were laid-off starting this past July are only eligible for state benefits, which are a maximum of 26 weeks.

Most state unemployment offices have updated information on what will happen with benefits at the end of the year if Congress does not extend federal benefits.

Video: What Will Happen With the Unemployment Extension

Read More: The Fiscal Cliff | Unemployment 2013 | Tell Congressional Leaders: Renew Unemployment Insurance for 2013 | Where to Get Help When Unemployment Runs Out

Connect With Alison:
Twitter | Facebook | Google+ | LinkedIn

Image Copyright Kirby Hamilton

Comments
No comments yet. Leave a Comment
Leave a Comment

Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>

©2014 About.com. All rights reserved.