Quote:
Originally Posted by getdul981
We are never in a hurry to file. We got caught twice several years ago with the bank sending amended 1099's after we had already filed and then we had to file ammended returns which cost more money to have prepared. The last couple of years we have even asked for extensions and there is no penalty, you just have to ask, or have your tax preparer ask. We have already been informed by my wife's retirement fund that they made a mistake and will be sending an ammended 1099.
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There is no penalty if you have already paid or withheld 90% if what you owe. Otherwise, there will be a penalty even with the extension.