Open Question: I owe a boatload of income tax, should I pay in installments?
I have enough to pay what I owe, but it will require selling stock and creating more short term capital gains (part of why I'm in this situation now). I see that if I pay in installments over about the next ten months that the IRS will charge me 5.5% (5% interest and .5% penalty). I am fairly confident that my money can earn greater than 5.5% if left in my brokerage account. I may also put some into a CD, but the best rate I'm finding is just over 3% (for short term CD's)
