Why should I file my federal and state tax returns together?
If you're waiting on information for your federal tax return, you should wait to file your state tax return too.
This is because your state tax return uses many of your federal tax numbers. So once you file your state tax return, you can't go back and change your federal return, since that would in turn change your already-filed state tax return. In this case, you'd have to amend your federal tax return.
If you're holding on to your federal tax return because you don't want to pay the federal tax you owe yet but you want your state refund, you don't have to. If you file your federal tax return before the due date, you still have up until the due date to pay any outstanding tax due without accruing interest or penalties.
This is because your state tax return uses many of your federal tax numbers. So once you file your state tax return, you can't go back and change your federal return, since that would in turn change your already-filed state tax return. In this case, you'd have to amend your federal tax return.
If you're holding on to your federal tax return because you don't want to pay the federal tax you owe yet but you want your state refund, you don't have to. If you file your federal tax return before the due date, you still have up until the due date to pay any outstanding tax due without accruing interest or penalties.
