I'm ready to file my tax return, which has a sizeable refund that I'd like to get ASAP. However, I'm yet to receive a Schedule K-1 on behalf of partial ownership in a company that always applies for an extension of time to file (Form 4868) and consistently doesn't provide me the K-1 until the last possible extension day, October 15. This K-1 will increase my refund as the company is not yet profitable.
If I file form 4868 now (Feb 21), will the IRS immediately process and pay the refund presently due or will they push it out until my tax return is filed?
Or am I better off filing my tax return now, which I know will result in my present refund being processed and deposited ASAP, and then filing an amended return when I finally get the K-1?
