While Ryan is receiving his unemployment benefits (for however long he is getting them), does he need to save some of the money so he can pay income tax on the benefit? Group of answer choices Yes, unless he is independently wealthy and has the money already set aside. Yes, he'll be on the hook for state income taxes but the IRS doesn't levy a tax on unemployment compensation. No, his former employer will have to pay the income tax on the unemployment compensation. No, unemployment benefits are exempt from federal income taxes. Who knows - the law in this area changes all the time