If your payroll weeks are different than the weeks that the EDD has issued, we suggest you keep a record of your work and wages earned for each day to correctly report information on the DE Certifying for benefits while working and not properly reporting wages is considered committing UI fraud and you could face a variety of serious penalties. You are legally responsible for reporting work and wages correctly.
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Evermore tells CNBC Make It that any taxable earnings , including those made from independent contract or freelance work, will be considered in your unemployment filings. What you make from your side gigs can lower the amount you receive from unemployment that week, or it could deem you ineligible for benefits for the week entirely.
Many states allow you to earn up to a certain percentage of your benefit amount through other work, before your payment is reduced. Failure to report income is classified as unemployment insurance fraud.
Consequences vary by state and can include having to pay back benefits plus interest, penalty fees, ineligibility for future benefits and criminal prosecution. But, if you qualify for traditional unemployment through a job you still have, you won't qualify for PUA for lost income from a side hustle.
For example, let's say you're able to continue working your day job from home. However, the earnings you make driving for Uber, which actually make up the majority of your income, have vanished during the pandemic. Because you still have your W-2 job with an employer, you won't qualify for any unemployment aid. According to a Bankrate survey , three out of every 10 American workers who take on a side hustle say they need that second job to make ends meet. These workers might earn the majority of their income through contract work, but they may also take on a food industry job for steadier hours.
Your state's unemployment agency can explain what types of income must be reported. For example, some states may require you to report barter, commissions from direct selling products like Avon or Tupperware or jury duty payments as income. Your state has a formula for reducing your benefit income when you earn wages though in some states, a significant amount of money may be exempt from counting against your unemployment benefits.
While Ohio only allows you to earn 20 percent of your regular benefit amount before a reduction takes place, Illinois lets you earn 50 percent of your normal benefit check without any deductions. Every state's formula is slightly different, but typically, the state reduces your benefit in proportion to how much your income exceeds the exemption. Failing to report income earned while on unemployment is against the law.
Employers generally inform states when they hire someone, so the state unemployment agency will eventually learn that you earned money while collecting benefits.
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