Late Tax Filing


V

VSLARRY

I live overseas, and as such have until June 15 to file US
taxes for 2003. In my lazy fashion, I did not start working
on them until yesterday. Now I see that I am missing some
1099s. By the time I get them I will have missed the
deadline.

What is better, to file for another extension, or to
estimate what there will be on the forms and then to file an
amended return (if need be)?
 
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F

Frederick Jorden

I live overseas, and as such have until June 15 to file US
taxes for 2003. In my lazy fashion, I did not start working
on them until yesterday. Now I see that I am missing some
1099s. By the time I get them I will have missed the
deadline.

What is better, to file for another extension, or to
estimate what there will be on the forms and then to file an
amended return (if need be)?
It depends. Generally, if you owe a large balance on the
return I would file it as fast as I could, and use estimates
and later file an amended return. On the other hand if you
will be owed a refund I would ask for the additional
extension.
 
A

A.G. Kalman

I live overseas, and as such have until June 15 to file US
taxes for 2003. In my lazy fashion, I did not start working
on them until yesterday. Now I see that I am missing some
1099s. By the time I get them I will have missed the
deadline.

What is better, to file for another extension, or to
estimate what there will be on the forms and then to file an
amended return (if need be)?
It's not a matter of which is "better." Whether you file on
time or amend later, you must still pay any tax due by the
filing deadline to avoid interest and penalties. It's your
choice. Estimate the tax due and file the return with your
payment or estimate the tax due and file the extension with
the payment. Personally, I'd file the extension and pay any
tax due. In this manner, you only need to complete one tax
return and you avoid having to complete the 1040X, a form
many people find to be too complex and this includes
taxpayers who are using tax software.
 
H

Herb Smith

I live overseas, and as such have until June 15 to file US
taxes for 2003. In my lazy fashion, I did not start working
on them until yesterday. Now I see that I am missing some
1099s. By the time I get them I will have missed the
deadline.

What is better, to file for another extension, or to
estimate what there will be on the forms and then to file an
amended return (if need be)?
File for the extension.
 
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H

Harlan Lunsford

I live overseas, and as such have until June 15 to file US
taxes for 2003. In my lazy fashion, I did not start working
on them until yesterday. Now I see that I am missing some
1099s. By the time I get them I will have missed the
deadline.

What is better, to file for another extension, or to
estimate what there will be on the forms and then to file an
amended return (if need be)?
File for the extension. It's the correct thing to do.

Cheer$,
Harlan Lunsford, EA n LA
 
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