tax withholding penalty question.

In 2006, I withhold minimum tax on my two jobs, I used excess money to pay down my student loan and leftovers invested in float-rate-income closed-end fund w/ 15% yield. As a result, I will be owing a lot of tax, but I can easily close the fund to repay back the IRS. The question is will I also be penaltied for not withholding enough tax? (I purposely did that since I can use the $$$ to generate cash, 15% yield + 7.75% interest saving on student loan, instead of paying uncle sam w/ no interest.) But if a penalty is involved, then it is a different story.

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• 是的，你會被罰的，但是 -淩空長老- ♂ (234 bytes) () 01/09/2007 postreply 14:44:33

• 回複：tax withholding penalty question. -Ameixia- ♀ (199 bytes) () 01/09/2007 postreply 14:53:34

• many thx all, i need to contact a CPA -tank- ♂ (77 bytes) () 01/09/2007 postreply 15:13:28

• Figure it out, -tank- ♂ (123 bytes) () 01/09/2007 postreply 16:08:08