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

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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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