roni deutch is a tax lady. she s the author to the tax guide to beating the irs. i have a question from pamela on facebook. you can always send me questions on facebook. it s the official ali velshi page. pamela says if you didn t have taxes withheld from your unemployment, how badly will you get hit? your tax rest not typically deducted from your unemployment checks. tell me about this. pamela, you are like millions of americans who have received unemployment compensation. you received a 1099-g from the government telling you exactly what you received. but here s what they forgot to tell you. you have to pay taxes on that money. we certainly know the first $2400 is not taxable, so that s going to save you depending on what you state you live in, about $800. here s the bad news, ali. do you realize how many unemployed people are going to get a tax bill from the irs?
island flooding. click on, on cnn, why is that important? those have been vetted or approved. we have looked through these. we have called the people. we know that these are real pictures from the real flood happening now and not a flood that happened in 1996 that people are trying to scam us with. so look at those. those are the real ones. good advice. chad myers staying on top of the flooding in the northeast. check in with you very shortly. you ve got two weeks and two days until your taxes are due. but what if you know now that you re just not going to make the deadline? roni deutch, the tax lady, has the answers.
owe the irs, please do not worry. you can get on the phone with the irs. you can work out a reasonable payment plan. but none of those rules apply to you. none of those great programs apply, ali, unless you file that tax return or an extension. all right. i ve asked for some questions on facebook. i ve got a great one for you. when we come back with roni we re going to answer that question. it s from pamela. let s bring it up. pamela says, if you didn t have taxes withheld from your unemployment, how badly will you get hit? roni, stay there.
credit. by point to you is simple, if you intentionally abuse the internal revenue service or the lax laws in front of you, you bet, ali, they re going to come after you with a negligent penalty that could be as much as 20%. there s a big difference between intentionally making a mistake on the return or a mathematical error. the critical issue is only claim those deductions or credits that are relevant to you or the irs, when they audit you, could think you intentionally tried to defraud the government, which now we re talking not only a negligent penalty, we re also talking about a criminal matter. don t fool out around with that. do research. if you make a mistake, that s one thing but don t try and cheat the system. you re going to come on a lot between now and tax day to help us out. roni deutch is a tax attorney, author of the tax lady s guide to beating the irs. let me check in on top stories here. as you saw earlier, president obama is announcing plans to open vast areas
car that s going to come out later this year. as for what this means for gm, we will see. but we did ask bob lutz about the future of gm, if he foresees any more big layoffs for the compa company. he says as long as the company continues to improve, they will not. good news for those employees. you can see more on that interview and the test drive for the volt right here on cnnmoney.com. cnn newsroom continues right now with our chief business correspondent ali velshi. tony, good to be back in the same room with you. i m ali velshi. i ll be with you for the next two hours. for this two hours every day as i try to breakdown the stories and make them understandable to you in a way that you can use them, allows you to make better decisions about your taxes, about your health care or your security, and, boy, about your oil prices. we just heard poppy interviewing someone talking about $4 or $5 a gallon. this is an entirely new world that we re looking at right now. here s w