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Get your taxes done using TurboTax
Hello diceplace,
Sorry to hear you still have not received your Schedule K1 document, howeverm, I am relieved that you took the initiative to be proactive about your tax situation and not only file for an extension, but to pay your estimated balance due, as well. This is especially important in your case, because if you fail to file by the tax extension deadline, the IRS generally, charges a failure-to-file penalty. The penalty is based on your unpaid taxes, and the IRS charges 5% of your taxes due for every month or partial month your tax return is not filed.
If you have not already paid your state estimated balance due, as well, then you will want to go to your state taxing agencies website and make a payment as soon as possible to avoid additional penalties and interest.
I would recommend folowing up with your investment advisors, as soon as possible to see why they have yet to provide you with your K1, as this should have been provided by now.
Let us know if you have any additional questions.
Best wishes going forward,
Terri
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