UNABLE TO READ A NEW, UNUSED FLOOPY DISK THAT I PUT NEW INFORMATION ONTO. THE ERROR, AS I CALL IT ASK ME IF I WISH TO FORMAT THE FLOPPY. IT REFUSES TO READ THE FLOPPY DISK WHICH HAS MY INCOME TAX INFO STORED ONTO.

The disk may have unrecoverable formatting errors making it useless. Or your hardware could be on the failure.

If you absolutely must , try purchasing or borrowing an external floppy drive and try to save the information to the disk on the external drive. If if formats and works then you know your internal floppy drive is bad.

If it has the same problems as formatting it in your internal drive, then the floppy itself is bad.

If I may suggest , in the future it would be wiser to save all your data to a removable USB Flash Drive. They are very very inexpensive and cost a lot less then a box of floppies :)