@Mpitchford wrote:
Doing it this way provides no assurance the tax penalty will be split up in 3 years. It actually only specified 2 years as an option to spread out the income but then it reads as if I would pay the entire amount owed this year. How can I make sure it’s spread up over 3 years? And how do I get it spread out 3 years and not 2?
1/3 taxable in 2020 and 2/3's in 2021 on 2022.
Unless you paid part back on 2020 then 2020 tax can be less or zero.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
