The unemployed may finally get a break this tax season.
Those who are out of work are able to deduct a number of expenses, including costs for traveling to interviews and printing resumes, according to CNN Money. Tax perks can also help the jobless if they decide to become self-employed or freelance.
The IRS is also offering a “grace period,” allowing taxpayers extra time to pay their tax bills.
"There's no question, most people would rather have a job than have to look for tax breaks for being unemployed," Mark Luscombe, principal federal tax analyst at accounting firm CCH, told CNN Money. "But for those facing an extended period of unemployment, they can benefit from knowing the steps to take to lower their tax bill."
Not everything is fair game when it comes to tax deductions.
The IRS red flags deductions like manicures, clothes and makeup.
One thing to follow is that if it can’t be used for the purpose of the job hunt, then it can’t be deducted, Gorden Ulen, a Danvers, Mass.-based CPA, told CNN Money.
- 3 tips for traveling cheaply
- Sony hack adds to security pressure on companies
- Survey says parents spend $532.87 a month to...
- Constantly changing online prices stump shoppers
- Record-breaking holiday travel expected
- Gift Guide: Strong photo, video gear options
- Biggest mailing day of the year means protect...
- Chrysler to recall about 288K Ram pickup trucks
- NYC premiere of Rogen film 'The... 8
- Is brand loyalty the new religion? 6
- US consumer prices fall in November 4
- Insurers ease 'Obamacare' deadline 3
- Keystone pipeline to top Senate agenda... 3
- AP sources: NFL employees turn over... 3
- Sony hack adds to security pressure on... 3
- PacifiCorp to close Deer Creek Mine in... 3