How to Calculate a Prepayment Penalty?

Answer If you are dealing with a situation involving a long-standing, sizeable debt, you may want to know about how a prepayment clause of your lending contract applies to your loan. Prepayment penalties ... Read More »

Top Q&A For: How to Calculate a Prepayment Penalty

What is the prepayment penalty for tax deduction?

You may pay a prepayment penalty to pay off your home mortgage early. The IRS allows you to deduct that penalty as a mortgage interest deduction on your income tax return as long as the penalty is ... Read More »

How to Calculate 401(k) Withdrawal Tax and Penalty?

Only in very limited circumstances, such as job loss or extreme financial hardships, will companies permit you to withdraw money from your 401k plan before you turn 59 1/2 years old. However, shou... Read More »

How to Calculate Estimated Tax Penalty?

Tax penalties are imposed on taxpayers whose income taxes are delinquent. Returns are considered delinquent if they are not filed by the appropriate deadline, which is March 15 for business returns... Read More »

How Do I Calculate the Late Penalty for Filing Taxes?

All taxpayers who do not pay the full amount of their tax owed by April 15 will be assessed a failure-to-pay penalty. Those who owe tax and do not file, or postmark, their returns on or before Apr... Read More »