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What to Do if You Cannot Afford to Pay Taxes

What can you do if you can’t pay the taxes you owe come April? Should you borrow from your 401(k) or is there an IRS tax payment plan option? This is especially important for many Americans that collected unemployment for the first time this year, and didn’t realize that unemployment benefits are taxable. Many of … Read more What to Do if You Cannot Afford to Pay Taxes

Do You Have to Pay Taxes On Unemployment Income?

The U.S. unemployment rate continues to remain high at 9.1%. This means that many Americans are collecting their unemployment insurance payments, and many are doing so for the first time ever. Now that the tax season is here, some people are left wondering if unemployment payments are taxable or not. I had the same question … Read more Do You Have to Pay Taxes On Unemployment Income?