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.
- What's in a name? At Grand Canyon, history,...
- Are you part of the global 'baby shortage'?
- Another study lists Salt Lake as one of the...
- Faith leaders: your secret weapon in the...
- Nintendo opens 2015 with some big announcements
- No-tip restaurant offers food for thought on...
- Kimberly Rotter: 7 weird things that affect...
- Randy Shumway: The winners and losers of...
- EPA inventory highlights 'toxic'... 19
- Analysis: Obama seizes on recovery,... 17
- Obama's proposed mandatory paid... 13
- Utah has fourth largest gender wage... 12
- Another study lists Salt Lake as one of... 10
- Are you part of the global 'baby... 10
- Survey ranks Utah's best and worst... 9
- Obama pitches his economic plan to... 6