roni deutch to explain three ways you may be forced to pay because of this disaster. good morning. i know we talk to you a lot around tax time but we brought you back on this one as well. a lot of people are concerned about this. they think about the seafood but the first one we re talking about here is at the gas pump. yeah, t.j., what many people are unaware of is that all oil companies must pay an eight cent tax per barrel into the oil disaster relief fund. guess what s going to happen, t.j. the house and the senate are going to increase that tax from eight cents all of the way up to 34 cents, even 41 cents per barrel. that means, t.j., you and i and everyone else will pay more money at the gas pump and, of course, we ll ultimately pay more money at the grocery store. anything and everything that affects gas affects our pocket books. do we have an idea, might be
stock sector is down in the oil region 10%, we know our retirement accounting are plummeting. what about the 300,000 to 400,000 unemployed people because of this disaster? they re going to cash out their retirement accounts, t.j. they re going to be broke. they re going to be desperate. they re not going to be able to pay their bills, their rent, their mortgage, so they re going to cash out their retirement accounts and ultimately have to pay penalties and tax on that takeout of money and be without a retirement account. now, is bp going to pay for that, too? i hope so. well, these are some real stark realities, roni. we appreciate you breaking this down for us. reality we all need to realize exactly what s happening out there. roni, always good to see you. you enjoy the rest of your saturday. thank you so much, t.j. a lot of people trying to figure out exactly how do you combat a big corporation like
into play here. also an opwner of a bp station tells us how this has@ed hysterectomy. we re on day 61 on this oil disaster and that giant slick sis impacting more coastline right now. some tar balls have just come ashore in panama city beach, florida. this is the furthest east we have seen so far. the beaches still open, there s no health advisory just yet. bp s partner meanwhile in the drilling of the well blames the spill on bp s, quote, reckless decisions and actions. bp rejecting that allegation. the department of the interior also has ordered oil and gas companies to submit a well blowout prevention plan when they apply for permits. you heard about the devastating toll the oil disaster is having on the fishermen, region, tour i m, you name it. even if you don t live in the gulf coast area, the spill is having an a. direct impact on your pocket book. let s bring in our tax expert
storm also blew out windows to what you know as sears tower but is now officially the willis tower now in downtown chicago. our reynolds wolf is here with me this morning. he is going to tell us now where the storms are headed. also something we re keeping an eye on. you don t see these that often. a royal wedding. this one in sweden. she is the heir to the throne. he is the commoner, if you will. that wedding taking place today, thousands in the streets in sweden today. we ll take you there live to tell you about this royal and this history-making wedding. but first, let me give you some of the stories that are making headlines this hour. first, sad story, about four people dead after an amtrak train hit a vehicle. the train hits a vehicle at a crossing in independence, louisiana, on friday. the victims were all siblings. one of them a pregnant 1-year-o 18-year-old. she was the driver. brothers, 16, 13, 12, all killed. it appears, they say, that the car did not stop befo
for that automatic six-month extension, you file form 4868. but we know it doesn t give you an extension of time to actually pay the irs. remember, if you cannot afford to pay the irs, and millions of taxpayers are going to be in that desperate situation, pick up the phone, call them up, and work something out. but get that tax return in. or that extension, so you ll delay and avoid very costly penalties. all right, last two speak for themselves. if you have questions, get professional help, and check the math. roni, good to see you as always. thanks very much for your great advice through the whole process. you ve made me feel less panicked. roni deutch, tax lady, and author. always a pleasure. benjamin frankly by the way, said nothing is certain but death and taxes, but he forgot about tax days and freebies. every april 15th you can get something for nothing. tax-day freebies. cinab cinabon, love those things, two bite-sized cupcakes from 6:00