Hello Dear Community. I cut this from the IRS discussion about the Cares Act, which speaks directly to my question of distrubuting the income and resulting taxes over 3 years. I fail to see why you disagree with the IRS. With all due respect, can someone please explain that to me? see pasted IRS text below:
Q6. When do I have to pay taxes on coronavirus-related distributions?
A6. The distributions generally are included in income ratably over a three-year period, starting with the year in which you receive your distribution. For example, if you receive a $9,000 coronavirus-related distribution in 2020, you would report $3,000 in income on your federal income tax return for each of 2020, 2021, and 2022. However, you have the option of including the entire distribution in your income for the year of the distribution.
