The deadline to file you federal and state taxes is less than a month away. We can’t emphasis the importance of filing your tax return enough. If you fail to file your tax return on time even if you can’t pay, there is a hefty fee. Avoid that fee and file by the April 15th deadline.

If you were unemployed during the 2008 tax year and received unemployment insurance benefits you may owe taxes on those benefits. The first $2,400 in unemployment benefits during 2009 is federal tax free due to provisions in the stimulus package. If you withdrew money from your 401(k) to help support yourself during 2008, even if you did so because you were unemployed, you will still owe taxes on that money plus a 10% penalty. For example, if you withdrew $5000 from your 401(k) you will owe and $500 penalty to the IRS plus any taxes due on that amount.

If you are unable to pay your tax bill at the time of filing you can always request a 120 day extension. If you are unable to pay after the 120 day extension, you can request a payment plan by contacting the IRS www.irs.gov. You can also visit the Tax Assistance Center, 819 Taylor St., Fort Worth, TX.