Ok....so I'm not the only person who has gone through the unemployment line. But I see all these large corporations getting bail outs and I even see hope for some people who are staring at possible foreclosure, with some of the mortgage companies lowering rates, etc. But what happens to the people like me who lost a job and had to clean out my 401K just to make ends meet and had to collect the full unemployment of what - a whopping $175 per week only to now be hit once again by Uncle Sam who now wants tax money on these funds that I took in desperation. Yes, dear old Uncle Sam may put me back in the poorhouse as I have been told that there is no relief for individuals that had to drain their 401K's to live while unemployed as well as the unemployment that we all work so hard for and hope we'll never have to use! Not only do we get hit by the taxes on the 401K, but also penalties. I thought one of the many campaign promises by our "President" was that he was going to give people tax breaks when they had to use these funds during times of crisesI. Isn't being unemployed - a time of crises? Oh yes, I was very lucky to get another job...but not for months and I'm sure not making enough to cover the taxes and penalties I'll have to pay this year. I feel like I'm being penalized for having to use all my savings and 401K just to live while unemployed and no one seems to have addressed this issue. I'm sure I'm not alone. And as the April 15th deadline is approaching my friend/accountant is frantically trying to help us over this hurdle. But I fear the tax burden I will bear this year will send me even further into debt. I'm just hoping someone out there can help us....the people still struggling and now struggling more so as the tax deadline approaches.
NinaGraff