Can I file an extension after already submitting my tax return for 2022?

If they make an estimated payment now but it turns out they overpaid once they get all the K-1s, will they get that money back when they file the amended return? Also, is there a specific form they need to include with this estimated payment?

Yes, if they end up overpaying, they'll receive a refund of the excess amount when they file their amended return. The IRS will process the 1040-X and determine if a refund is due based on the corrected information. There's no specific form needed for making an additional payment for a tax year already filed. They can simply use the IRS Direct Pay system online (select "Payment on Tax Return"), or mail a check with their names, SSNs, tax year, and a note that it's an additional payment. For extra documentation, some people include Form 1040-V (payment voucher), though it's not strictly required.

Does taxr.ai help calculate what the penalties might be? I'm in a similar situation but with 1099s that came late instead of K-1s. Also, does it work for filing the actual amended return too?

I'm skeptical about these tax services... how does it handle partnership income specifically? K-1s can be complicated with all those different boxes and categories. Can it really understand all that?

Yes, it definitely helps calculate potential penalties. It has a penalty estimator tool that shows what you might owe based on how much additional tax and how late you're paying it. Super helpful for planning! It doesn't file the amended return for you, but it creates a detailed guide on exactly what you need to report on your 1040-X when the time comes, including which line items will change and by how much.

Wait, how does this actually work? I thought it was impossible to get through to the IRS no matter what you did. Do they have some special connection or something?

Sounds like a scam to me. How would a third-party service get you through to the IRS faster than calling yourself? The IRS phone system is the same for everyone. I bet they just take your money and you still wait forever.

It actually works by continuously calling and navigating the IRS phone system for you. Instead of you having to redial and go through all the prompts repeatedly, their system does it automatically until it finds an opening, then calls you to connect you directly with the IRS agent. No special connection - just technology automating the tedious part. Not at all a scam - they don't talk to the IRS for you or act as intermediaries. You speak directly with IRS agents yourself. You're just skipping the frustrating part of having to redial hundreds of times hoping to get through.

What if my income in 2022 was significantly higher than 2021? I had a big jump in income and now have a similar K-1 issue. Would the safe harbor still be based on my much lower 2021 tax bill?

Yes, even if your 2022 income is significantly higher, the safe harbor is still based on your 2021 tax bill. That's actually one of the benefits of the safe harbor provision - it protects taxpayers whose income increases substantially from year to year. If your 2021 tax liability was $10,000, for example, and you've already paid at least that amount for 2022 through withholding, you would meet the safe harbor requirement and avoid any underpayment penalties, regardless of how much your actual 2022 tax ends up being after adding the K-1 income.

I filed an amended return last July because of a late K-1 and it took almost 6 months to process. The IRS is still catching up from the pandemic backlog. Just make sure you keep copies of EVERYTHING and consider sending it certified mail so you have proof of when you submitted it.

Unfortunately, the IRS still considers it your responsibility to report all income accurately, even when the delays are caused by third parties like partnerships sending late K-1s. The penalties and interest aren't meant to be punitive so much as to compensate the government for the time-value of the money you owed but didn't pay on time. That said, you can request an abatement of penalties (though not interest) by showing reasonable cause, which could include receiving documents late. You'd need to document your efforts to get the information timely and show you acted reasonably. Success with this approach varies, but it's worth trying if you face significant penalties.