Featured > News and trends > Surveys > Work/Life
Tax time dilemmas for workers and job seekers
- April 7th, 2010
- 18 Comments
Tax season can be, well, taxing to say the least, and this year it might be more so on many Americans who are unemployed, have seen their incomes shrink or are hoping for a sizable return to pay off bills.
For cash-strapped workers, a tax return can be a much-needed income boost. According to a new CareerBuilder survey of more than 5,200 workers, more than half (56 percent) of workers report they will use their tax return to pay off bills that have accumulated. Does this sound familiar?
While many workers indicated that they will use their tax returns to tackle bills, others said they will use their refunds for the following:
- Put into savings — 34 percent
- Make home improvements — 12 percent
- Go on vacation — 11 percent
- Pay back money I owe to people — 8 percent
- Invest it — 7 percent
- Buy a car — 2 percent
With America still reeling from the Great Recession, 78 percent of workers said they currently live paycheck to paycheck; up from 61 percent who said the same in May 2009. In addition, economic pressures have resulted in some workers downsizing their investments to help make ends meet. Nearly one-in-five (17 percent) report they reduced their 401 (k) contributions in the last year.
Before they can even think about receiving or spending their tax returns, many unemployed taxpayers are simply concerned about filing them. Some major questions include:
- What job search expenses can be deducted?
- How do I claim unemployment benefits on my tax return?
- What if I can’t pay my taxes this year because I’m unemployed?
If you’re one of these people, here are some resources you might want to check out:
- Click here to go to the IRS’s Tax Center to Assist Unemployed Taxpayers. It’s fairly comprehensive and provides many tips in English and Spanish.
- The IRS has also set up a YouTube channel with short videos that address many taxpayer questions including the ones I mentioned above.
- Finally, a CNN blog gives a very high level look at deductible job search expenses and who qualifies.
Later this week: Tax tips for freelancers
Trackbacks
Stay Connected
- How to conduct a job search with a criminal record (118)
- Research becomes crucial in career relocation decisions (3)
- What ‘The Avengers’ can teach you about the workplace (3)
- ‘If I knew then what I know now’: Advice for college graduates (2)
- Companies hiring in May (2)
- Survey: Working moms continue to struggle with work-life balance, pay disparity (2)
- What the executive office looks like (1)
- Companies hiring this week (1)
- America’s in-demand jobs: .NET developer (0)
- College majors with the highest starting salaries (0)
- America’s in-demand jobs: CNC machinist (0)
- Companies hiring this week (0)
- Positive hiring outlook for the class of 2012 (0)
- America’s in-demand jobs: Financial analyst (0)
- Summer job forecast: Partly cloudy, with improving hiring conditions (0)
- America’s in-demand jobs: Health care case manager (0)
- Companies hiring this week (0)
- Are businesses prepared for a disaster? (0)
- 11 questions you should be asking employers before accepting a job (0)
- 10 unusual interview mistakes, and 6 that are all too common
- Hello, stranger: How to use cold introductions to advance your job search
- 22 companies hiring in large volume
- 6 things you should probably remove from your résumé
- 50 jobs that pay $50,000
- The best careers for your zodiac sign
- The future’s 15 most wanted workers
- Companies hiring this week
- 8 jobs for fashionistas
- The ongoing debate over unpaid internships
- Survey finds more mature workers plan to work post-retirement
- 9 tax-time tips for consultants and contract employees
- Companies hiring this week
- 25 best-paying jobs for women
- Do you know how to deal with a ‘work spouse’?
- Survey reveals 61 percent of US workers satisfied with current job
- 7 behind-the-scenes jobs at the Academy Awards
- America at age 24: An education and employment snapshot
- Could your cube mate be your soul mate too?
- Companies hiring this week
- May 2012 (12)
- April 2012 (24)
- March 2012 (23)
- February 2012 (23)
- January 2012 (22)
- December 2011 (20)
- November 2011 (22)
- October 2011 (26)
- September 2011 (27)
- August 2011 (22)
- July 2011 (21)
- June 2011 (22)
- May 2011 (20)
- April 2011 (21)
- March 2011 (25)
- February 2011 (20)
- January 2011 (19)
- December 2010 (20)
- November 2010 (20)
- October 2010 (20)
- September 2010 (19)
- August 2010 (20)
- July 2010 (21)
- June 2010 (18)
- May 2010 (20)
- April 2010 (14)
- March 2010 (22)
- February 2010 (15)
- January 2010 (16)
- December 2009 (15)
- November 2009 (12)
- October 2009 (22)
- September 2009 (19)
- August 2009 (34)
- July 2009 (40)
- June 2009 (35)
- May 2009 (18)
- April 2009 (20)
- March 2009 (27)
- February 2009 (16)
- January 2009 (18)
- December 2008 (16)
- November 2008 (32)
- October 2008 (33)
- September 2008 (28)
- August 2008 (15)
- July 2008 (27)
- June 2008 (7)
- May 2008 (2)
- April 2008 (6)
- March 2008 (6)
- February 2008 (8)
- January 2008 (6)
- December 2007 (3)
- November 2007 (3)
- October 2007 (8)
- September 2007 (7)
- August 2007 (8)
- July 2007 (8)
- June 2007 (9)
- May 2007 (6)
- February 2007 (2)
- January 2007 (4)
Subscribe
- How to conduct a job search with a criminal record (118)
- Research becomes crucial in career relocation decisions (3)
- What ‘The Avengers’ can teach you about the workplace (3)
- ‘If I knew then what I know now’: Advice for college graduates (2)
- Companies hiring in May (2)
- Survey: Working moms continue to struggle with work-life balance, pay disparity (2)
- What the executive office looks like (1)
- Companies hiring this week (1)
- America’s in-demand jobs: .NET developer (0)
- College majors with the highest starting salaries (0)
- America’s in-demand jobs: CNC machinist (0)
- Companies hiring this week (0)
- Positive hiring outlook for the class of 2012 (0)
- America’s in-demand jobs: Financial analyst (0)
- Summer job forecast: Partly cloudy, with improving hiring conditions (0)
- America’s in-demand jobs: Health care case manager (0)
- Companies hiring this week (0)
- Are businesses prepared for a disaster? (0)
- 11 questions you should be asking employers before accepting a job (0)
- 10 unusual interview mistakes, and 6 that are all too common
- Hello, stranger: How to use cold introductions to advance your job search
- 22 companies hiring in large volume
- 6 things you should probably remove from your résumé
- 50 jobs that pay $50,000
- The best careers for your zodiac sign
- The future’s 15 most wanted workers
- Companies hiring this week
- 8 jobs for fashionistas
- The ongoing debate over unpaid internships
- Survey finds more mature workers plan to work post-retirement
- 9 tax-time tips for consultants and contract employees
- Companies hiring this week
- 25 best-paying jobs for women
- Do you know how to deal with a ‘work spouse’?
- Survey reveals 61 percent of US workers satisfied with current job
- 7 behind-the-scenes jobs at the Academy Awards
- America at age 24: An education and employment snapshot
- Could your cube mate be your soul mate too?
- Companies hiring this week
- May 2012 (12)
- April 2012 (24)
- March 2012 (23)
- February 2012 (23)
- January 2012 (22)
- December 2011 (20)
- November 2011 (22)
- October 2011 (26)
- September 2011 (27)
- August 2011 (22)
- July 2011 (21)
- June 2011 (22)
- May 2011 (20)
- April 2011 (21)
- March 2011 (25)
- February 2011 (20)
- January 2011 (19)
- December 2010 (20)
- November 2010 (20)
- October 2010 (20)
- September 2010 (19)
- August 2010 (20)
- July 2010 (21)
- June 2010 (18)
- May 2010 (20)
- April 2010 (14)
- March 2010 (22)
- February 2010 (15)
- January 2010 (16)
- December 2009 (15)
- November 2009 (12)
- October 2009 (22)
- September 2009 (19)
- August 2009 (34)
- July 2009 (40)
- June 2009 (35)
- May 2009 (18)
- April 2009 (20)
- March 2009 (27)
- February 2009 (16)
- January 2009 (18)
- December 2008 (16)
- November 2008 (32)
- October 2008 (33)
- September 2008 (28)
- August 2008 (15)
- July 2008 (27)
- June 2008 (7)
- May 2008 (2)
- April 2008 (6)
- March 2008 (6)
- February 2008 (8)
- January 2008 (6)
- December 2007 (3)
- November 2007 (3)
- October 2007 (8)
- September 2007 (7)
- August 2007 (8)
- July 2007 (8)
- June 2007 (9)
- May 2007 (6)
- February 2007 (2)
- January 2007 (4)













[...] Go to Source [...]
[...] Wednesday, I wrote a post about everyone’s favorite time of year: tax [...]
[...] Wednesday, I wrote a post about everyone’s favorite time of year: tax [...]
[...] Wednesday, I wrote a post about everyone’s favorite time of year: tax [...]
[...] Wednesday, I wrote a post about everyone’s favorite time of year: tax [...]
[...] Wednesday, I wrote a post about everyone’s favorite time of year: tax [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]
[...] Tax time dilemmas for workers and job seekers Tax season can be, well, taxing to say the least,… [...]