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To: John Madarasz who wrote (89684)	4/4/2001 9:49:28 AM
From: Ilaine	Read Replies (1) \| Respond to of 436258

The prudent thing to do - as I understand it - when you exercise options is to sell enough to pay the tax right away, and pay it immediately. People think income taxes are due April 15. Wrong. April 15 is the day for filing your form 1040. Income taxes, if not withheld, must be paid quarterly, otherwise you owe not only the tax but penalty and interest. And there is no way to file bankruptcy on Uncle Sam. I feel sorry for the lady but she had $900,000 worth of stock. She had enough money to talk to a good CPA or tax attorney. Caveat - I am not a tax attorney and may not know what I am talking about.-g-