A co-worker stated that "income sharing" saved her when she and her husband had made a significant amount more than in the prior tax year. She said you could split/share your income over a course of 3 years. I have not been able to find this information anywhere was wondering if anyone could help me out?

Zip Code: 85206

I thihk you are referring to a tax concept know as "Income Averaging", which was eliminated as part of the Tax Reform Act of 1986.

I remember learning about Income Averaging at my tax class at Penn, but since I graduated in 1987, I never actually saw it used in practice.

Zip Code: 01801

Thanks for your help! I am a married mother of 2. I graduated almost two yrs ago from nursing school. I made great money last year working my ass off, only to find out that now I have to work harder and have more taxes with held along with now having a monthly payment for taxes owed last year. Just doesn't seem rewarding to try and go any farther in life in this country anyways. Again Thanks for the info....Have a good one!!!

Zip Code: 85206