₪₪₪ Better to file tax return on time then 1040X amended? -OR- file a more accurate return late? [Due a Refund]?
Here is my situation: The Fed/state six month extension ends tomorrow (Oct 15th) and I’m *still* not ready. I’m due back a refund from both the Fed and state so I’m not worried about penalties.
Is it better to:
1) Just file my “best 1040″ I can tomorrow so that I’m within the six month extension deadline, then file a 1040X in a couple of weeks?
-OR-
2) Just get my “ducks in a row” and eFile (etc.) my tax returns a couple of weeks late to make sure they are more accurate?
In either case will my chance of reaping an audit increase? If you’re late there are no penalties, right? (if you’re due refunds?)
I’m using a consumer tax software program and I want to have time to have a professional review my return before filing because for the first time I have a rental house and I’m pretty darn sure that my return is inaccurate at this point in time.
Category: IRS Problems
