The global recession has put millions of American out of work in 2009. If you are one them, you need to know the answer to the following federal tax questions:

1. Are there tax breaks or tax exemptions for unemployment compensation when filing my 2009 Federal income tax return?

2. Where can I get the tax help to answer this federal tax question?

To get the answer you could search the IRS website, contact an IRS agent for federal tax help, consult an income tax attorney, talk to your tax accountant or wade through the 2009 federal income tax manual and get the answer yourself.

Or you can get this important tax information below:

Yes, there is a tax benefit for those who received unemployment compensation in 2009.

The first $2,400 of 2009 Unemployment Compensation is TAX-FREE.

This is a one-year federal income tax exemption granted by the stimulus act.

Unemployment benefits above the $2,400 limit will still count as taxable income.

source: smartmoney