If you’re currently receiving unemployment benefits in New York and have vacation pay from your previous employer, you might be wondering whether or not you need to claim that vacation pay while receiving unemployment benefits. The answer is yes, you do need to claim vacation pay on unemployment in New York.
Why Do You Need to Claim Vacation Pay on Unemployment?
Vacation pay is considered earned income, just like wages or salary. When you file a claim for unemployment benefits, you’re required to report all income earned during the week when it was earned, not when it was paid. This includes vacation pay that you received during the week.
How Does Vacation Pay Affect Your Unemployment Benefits?
When you report your vacation pay as earned income during a week, it will be deducted from your weekly benefit amount. This means that if you receive $100 in vacation pay for a week and your weekly benefit amount is $200, your benefit amount for that week will be reduced to $100.
- You must report all vacation pay for the week it was earned.
- Your benefit payment may be reduced for the week in which you received the vacation pay.
- If the amount of your vacation pay is greater than your weekly benefit rate, then you will not receive any unemployment benefits for that week.
How to Report Your Vacation Pay on Unemployment
You can report your vacation pay online or by calling the Telephone Claims Center (TCC). To report online, log into your account at labor.ny.gov/signin and click on “Report Wages and Work Hours.” On the next page, select “Report Earnings” and enter the gross amount of your Vacation Pay under “Earnings.”
Alternatively, if you prefer reporting via phone then call TCC at 1-888-209-8124 (TTY: 1-877-358-5306). Follow the instructions to report your vacation pay for that week.
Conclusion
In conclusion, if you are receiving unemployment benefits in New York and have received vacation pay from your previous employer, you must report it as earned income. Failure to do so may result in overpayments and penalties. To avoid any inconvenience or penalties, ensure that you report all income correctly and accurately while filing for unemployment benefits.