Code Section 85
|Code Section||Effective Date||Name of Act||Name of Provision||10yr Revenue Estimate ($millions)|
|85||12/31/2008||The American Recovery and Reinvestment Act of 2009 (Public Law 111-5)||Exclusion from gross income for unemployment compensation benefits||-4,740|
Exclusion from gross income for unemployment compensation benefits
Explanation of Provision
The Act provides that up to $2,400 of unemployment compensation benefits received in taxable years beginning in 2009 are excluded from gross income by the recipient.
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