RalphH1
Expert Alumni

Get your taxes done using TurboTax

Since filing before you've received all your 1099s means you're likely underpaying your taxes at that point, we tax people have to be careful (and selective) about encouraging that. Especially when things don’t always go as planned.

 

The government is certainly aware that late and revised 1099s (especially by investment companies) undermine people’s ability to file timely. And obviously if your amendment is there by Tax Day with your payment, then it ends up making no monetary difference anyway. But after that date whatever you owe starts to grow. And if you're a little more on the IRS's radar by just filing an amendment, that's probably even more the case if things come up and you don't revise it on time (as the system starts processing the mismatches).

 

And since most of us just feel better about taxes when they're done (unless there's an obvious and significant gain to be had by waiting), and amending complicates and stretches things out, xmasbaby0's advice to just know what you're getting into is the key concept.

 

(By the way, I completely agree that ThisIsSoTaxing!)

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