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angeldust asked:


I previously asked a question regarding the estimated tax penalty at the end of the year and if the IRS will allow a payment plan. My new question involves owing about $2035 in taxes (I am self employed). If I am not able to pay the full amount,would I be able to make payment arrangements with the IRS or I would only be able to do that with the penalty? I am sure I will be charged a penalty, as I will not be doing the quarterly payments. Thanks.

Eileen

jlatina24 asked:


I have a tax question. I have a friend who received unemployment while she was working. She is scared because now by January 31st the 1099 will be sent to her. She will be receiving a 1099 but her question is on the penalty. Obviously one should not receive unemployment when they are employed. What will happen to her? She is afraid she may be arrested since this is a felony. Please help so I can help her throught this.

Thanks,

Jo

jpayaso25 asked:


I already have a loan but have run into to some tough times and now Im faced with having to get another loan. I have been told that I may get a tax penalty for the second loan , is this true ?

Jacqueline

Tiff Tiff asked:


I have purchased a foreclosed home for $80,000. I would like to sale it for 110,000. Would I have any tax penalty if I sell it in 1 year? I live in the state of Wisconsin.

Arlene

Bri asked:


Can you take out money from your 401k account as a no interest loan for yourself and without tax penalty?
My friends mother is thinking about doing it – she says it’s taking out a loan against the 401k and her employer will be deducting pay from her check every pay period.

Sheila

Matt L asked:


Recently on 4/24/07 I recieved a tax penalty in the mail from 2001. Me and my ex-wife were married between 2000 and 2005 aprox. She failed to pay some taxes on her job because she was paid under the table. I am now remarried and have a daughter. My ex-wife has always been controlling and abusive and always blamed me for everything. Well when I called her the other day to ask her to pay half of the $1044.00 debt she told me you know what you are responsible because you always took care of the bills and then I try to explain to her and she said why do you keep talking so I stopped. Then she just said she will not pay. So I live in another state and to fly over and take her to court would cost $500 at least so that would already be more her half so I would lose the money anyways. Is there anything I can do to not be walked over again I feel so bad about losing this money too. Thanks for all of your help and answers!

Sheila