a business gets an extension on it's Taxes and one of partners have already file for 2005. What next.?

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a business gets an extension on it's Taxes and one of partners have already file for 2005. What next.?

does that partner wait until 2006 to file what was earned in 2006 before april 15

2006-07-12 04:23:47 · 1 answers · asked by Fred Y 1 in Business & Finance ➔ Taxes ➔ United States

1 answers

If it is a partnership or an S-corporation, the individual will have to amend their 2005 personal tax return to include the K-1 income. If it is a corporation, then it doesn't matter

2006-07-12 04:32:05 · answer #1 · answered by 3eleven 4 · 0⤊ 0⤋