Extension filing - electronically or mail?

[katzspur]

I'm waiting for a K-1 form and have been informed an "estimated K-1" may be available by 4/11 and the final version will be done in June.  

Currently I owe FED & State taxes and the K1 form will likely increase the amount owed.  

I'm trying to decide the best course of action:

1. Should I file for an extension since the estimated K1 may not even be available by 4/11?   I still have to pay the taxes owed by 4/15 and TT Premier creates Form 4868 for mailing but can I file the 4868 separate from the actual return?  Would I use the EFTPS or IRS site to file the 4868 and make the payments?

OR

2. Go ahead and file now, pay the taxes owed and then do an amended return in June when the final K1 form is made available?   

OR 

Is there another option?  

[PatriciaV]

Since you know that you owe taxes, your best option may be to file your return with appropriate payment before the April deadline. If you can, wait until you have the draft K-1 so you can estimate the income to be reported on the final K-1, which may reduce any interest on the tax you may owe later. But don't fail to file before the filing deadline.

When you receive the final Schedule K-1, you can amend your return and pay any additional tax. 

Extending now will have no effect on the tax or interest you owe when you file later (or amend).

[fanfare]

Select EXTENSION on the IRS wesite payment page.

any amount will do but tax due is expected.

You will get immediate confirmation.

you need your bank info

@katzspur 

You extension can be revoked if IRS later finds you did not make a reasonable payment