distribution of income). (h) Election To pay liability in installments (1) In general A taxpayer may elect to pay the tax imposed under subsection (a) or (g) for any taxable year in 5 equal annual installments (in the case of the taxpayer’s first taxable year beginning in 2023, 9 equal annual installments). (2) Date for payment of installments If an election is made under paragraph (1), the first installment shall be paid on or before the due date (determined without regard to any extension of time for filing the return) for the return of tax for the taxable year described in subsection (a) and each succeeding installment shall be paid on or before the due date (as so determined) for the return of tax for the taxable year following the taxable year with respect to which the preceding installment was made. (3) Acceleration of payment (A) In general If there is an addition to tax for failure to timely pay any installment required under this subsection (other than by reason of a timely election made under paragraph (5)), a bankruptcy of the taxpayer (including in a title 11 or similar case), or any similar circumstance, then the unpaid portion of all remaining installments shall be due on the date of such event (or in the case of a title 11 or similar case, the day before the petition is filed). (B) Payment within 6 months In the case of the payment of any installment required under this subsection during the 6-month period beginning on the due date of such installment, subparagraph (A) shall not apply and rules similar to the rules of section 6166(g)(3)(B) shall apply. (4) Proration of deficiency to installments If an election is made under paragraph (1) to pay tax imposed under subsection (a) in installments and a deficiency has been assessed with respect to such tax, the deficiency shall be prorated to the installments payable under paragraph (1). The part of the deficiency so prorated to any installment the date for payment of which has not arrived shall be collected at the same time as, and as a part of, such