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My business taxes normally do not get done in a timely manner, can I file my personal with my w2 and then add an amendment later. If I wait then I hold up my wife's taxes

 
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1 Best answer

Accepted Solutions
GeoffreyG
New Member

My business taxes normally do not get done in a timely manner, can I file my personal with my w2 and then add an amendment later. If I wait then I hold up my wife's taxes

That's an understandable situation, especially if you, your wife, or both of you are expecting a tax refund, and the timeliness of its receipt is important to you.  There is nothing inherently wrong (or illegal) in doing as you propose.  As long as you are comfortable with the extra legwork required with amending and filing an amended tax return (plus a state tax return too, if applicable), then it's a decision really left up to the two of you.

Aside from receiving an expected tax refund sooner rather than later, this should not materially increase your audit risk, or have any other practical effect.

But if you are not expecting a tax refund, then perhaps requesting an automatic extension of time to file would be more appropriate?  That would give you the extra 6 months to complete your business tax items.  However, filing (an original) tax return now will have much the same effect, in that you'll no longer need to meet a mid-April filing deadline for your personal taxes.  In fact, you'll have up to 3 years to finish and file your amended tax return.

Thank you for asking this question.


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1 Reply
GeoffreyG
New Member

My business taxes normally do not get done in a timely manner, can I file my personal with my w2 and then add an amendment later. If I wait then I hold up my wife's taxes

That's an understandable situation, especially if you, your wife, or both of you are expecting a tax refund, and the timeliness of its receipt is important to you.  There is nothing inherently wrong (or illegal) in doing as you propose.  As long as you are comfortable with the extra legwork required with amending and filing an amended tax return (plus a state tax return too, if applicable), then it's a decision really left up to the two of you.

Aside from receiving an expected tax refund sooner rather than later, this should not materially increase your audit risk, or have any other practical effect.

But if you are not expecting a tax refund, then perhaps requesting an automatic extension of time to file would be more appropriate?  That would give you the extra 6 months to complete your business tax items.  However, filing (an original) tax return now will have much the same effect, in that you'll no longer need to meet a mid-April filing deadline for your personal taxes.  In fact, you'll have up to 3 years to finish and file your amended tax return.

Thank you for asking this question.


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