(1) An individual filing a new claim for unemployment compensation shall, at the time of filing such claim, be advised that:
(a) Unemployment compensation is subject to federal, state and local income tax;
(b) Requirements exist pertaining to estimated tax payments;
(c) The individual may elect to have federal income tax deducted and withheld from the individual’s payment of unemployment compensation at the amount specified in the Federal Internal Revenue Code;
(d) The individual shall be permitted to change a previously elected withholding status.
(2) Amounts deducted and withheld from unemployment compensation shall remain in the unemployment fund until transferred to the federal taxing authority as a payment of income tax.
(3) The commission shall follow all procedures specified by the United States Department of Labor and the Federal Internal Revenue Service pertaining to the deducting and withholding of income tax.
(4) Amounts shall be deducted and withheld in accordance with the priorities established in regulations developed by the commission.
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