One of the most common pieces of late-arriving information that our clients receive is a K-1 form. We understand that they are often delayed and received well past our March 15th deadline. Many K-1 forms add complexity to the tax return and require extra effort to analyze and input. It is our policy that we will automatically file an extension for any client who receives a K-1 after March 31. We will inform you of any balance due that must be paid by April 15th. We will not "guess" as to what information will be reported on the K-1 and will not file a tax return until we have received an official K-1 form.