Interview and extension to file tax return

T

Terese

Registered Users (C)
What happens if you need to file an extension? Today, I received a draft of schedule K-1 on one of the stocks I own. (Actually I am losing money and did not made a penny on this stock). This stupid company mentioned that they will send me the correct K-1 in Sep so I can file my taxes by Oct 15th 2008.

I feel like I am on a catch-22 here. I do not have the correct K-1 since the company says it will send it by Sep 2008. That means I need to file an extension with IRS.

How will the Immigration Officer look at my situation if I file an extension to file taxes? I did not do anything wrong. I have always filed my taxes on time. Last year, I purchased stock in this large corporation which sent me a draft K-1 today. That means I will have to wait till I get the correct K-1 and then file my taxes. In the mean time, I will have to file an extension with IRS.
 
You can file your tax return based on the current tax information form and then file a revised return when you have new information. Because even if you file an extension, you will have to pay penalty if instead of a tax return you had tax arrears. Moreover, you can't be naturalized if you have taxes over due.

Terese said:
What happens if you need to file an extension? Today, I received a draft of schedule K-1 on one of the stocks I own. (Actually I am losing money and did not made a penny on this stock). This stupid company mentioned that they will send me the correct K-1 in Sep so I can file my taxes by Oct 15th 2008.

I feel like I am on a catch-22 here. I do not have the correct K-1 since the company says it will send it by Sep 2008. That means I need to file an extension with IRS.

How will the Immigration Officer look at my situation if I file an extension to file taxes? I did not do anything wrong. I have always filed my taxes on time. Last year, I purchased stock in this large corporation which sent me a draft K-1 today. That means I will have to wait till I get the correct K-1 and then file my taxes. In the mean time, I will have to file an extension with IRS.
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