I was released by my company and I had to purchase my ISO's within 60 days of leaving the company or lose them. The issue is to purchase them would mean around a $1.2m AMT & State Tax Bill next year. As the company is private they determine if and when they buyback your shares. I want to sell them all now but can't, so if I purchase them all and between now and next year the company don't buy them back I have a Tax Bill that I cannot pay.
Where do I stand when I have no control when I can sell my shares? when I need to sell my shares to pay my tax bill? It will mean selling my house, cars and still not have enough funds to pay my AMT & State Tax thus it will probably bankrupt me?