2007-01-16 08:19:28 · 3 answers · asked by jazper1028 1 in Business & Finance ➔ Taxes ➔ United States
It will not affect each other. However if you are expecting a refund this year but you were assessed last year with a balance owing, your refund will be on hold until your audit is final
2007-01-16 08:23:42 · answer #1 · answered by hurt 3 · 0⤊ 0⤋
If there are matters in the audit which will impact this year's return in any way, I would be inclined to compute your tax position for last year and make estimated payments based on the most likely outcome of the audit. If the audit is not resolved by April 17th, file an extension. As the audit progresses, revise your anticipated tax liability and either pay it or provide for it in a separate bank account (paying is best as it mitigates interest)
2007-01-16 18:51:38 · answer #2 · answered by skip 6 · 0⤊ 0⤋
Yes but avoid making any errors you made last year and watch for any carryover numbers that might change this year's return. Aside from that go for it.
2007-01-16 16:24:17 · answer #3 · answered by spicertax 5 · 0⤊ 0⤋