Don’t they still have the tax deal where if you have an unusual windfall or something one year, you can average your income for a period of years to spread it out?
Of that I am not certain, but the IRS and your state tax authority is going to see it as income - and you’ve gotta come up with the do-re-mi.
Game show contestants have to sign forms concerning taxes and such before they compete.
Takes some of the fun out of it.
But the Mustang is still a beaut!
From what I understand that doesn’t apply to winnings...I think they want money up front for that type of income. I am not an accountant, but have known several that won things and it didn’t seem like it was an option to average. My brother once won a pile of money at the horse track and there was actually a tax man there to get paperwork and money done on the spot. They didn’t even bother to figure his income, just took large taxes out of his winnings. He actually got a small refund at the end of the year because they took too much. That was years ago and I don’t know if it is still done that way.