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Notice code 588
Notice code 588 (Default) — The first $2400 of unemployment compensation paid to a person is not taxable. We reduced the unemplo…
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588
Read the notice carefully and note any deadline. Gather returns, notices, and payment records. Book a free strategy session before responding if the amount is large, unclear, or collection language appears.
What the IRS language says
The first $2400 of unemployment compensation paid to a person is not taxable. We reduced the unemployment compensation you, or if you filed a joint return, your spouse reported on your tax return accordingly.
What it usually means
588 is in our IR Manual catalog. Official wording is dense — we translate it for business owners and individuals and map realistic next steps.
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