The CARES Act made important changes to unemployment benefits to help better provide for workers suffering due to the COVID-19 pandemic.
One provision gave an extra $600 per week in unemployment benefits on top of state maximums.
This extra money is available through July 31 and, because of it, as many as two-thirds of workers are currently receiving more money than they earned while on the job.
Unemployment benefits are subject to federal tax, and they're also taxed in some states.
It may seem counterintuitive to suggest returning to work as soon as possible if you're making more on unemployment.
Missing out on either of these benefits could end up costing you more than you gain from the extra unemployment income.
And by returning to work even if you're making more on unemployment, you can preserve your financial future. »