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Is it OK to file my return if I haven't received all my tax documents yet?

I missed the deadline for filing my last quarter of estimated taxes for 2022.  I noticed on the instructions for form 1040-ES that I don't have to pay by the quarterly payment deadline of Jan 17th 2023 as long as I file my taxes by Jan 31st 2023.  However, I am fairly certain that I will not receive all my 1099s by Jan 31st.  Is it OK for me to file my taxes by Jan 31st and then file an amended tax return once all my documents are in?

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3 Replies

Is it OK to file my return if I haven't received all my tax documents yet?

Amending a tax return is a process that can take six to nine months or even longer.  The IRS has been backlogged and it takes them "forever" to process an amended return.  If you choose to file without all of your 2022 information--know what you are getting into.   Will it be worth the aggravation and the wait?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Is it OK to file my return if I haven't received all my tax documents yet?

I guess I'm not understanding what would be so aggravating and what I would be waiting for.  I'm thinking that if anything I will owe more money when I get the missing1099s.  So I would file an amended return and send a check for what I owe.  What would I be waiting for after that?  For them to cash my check?

RalphH1
Expert Alumni

Is it OK to file my return if I haven't received all my tax documents yet?

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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