3-months extension, 5-months extension, 6-months extension, Additional Extension of Time, Extension form 7004

Filing an Extension Application for Corporate or Partnership Taxes

Form 7004 is the form used to file for an automatic extension of time to file your business tax return for a partnership, a multiple member LLC filing as a partnership, a corporation, or s-corporation. You must file this extension by the due date of your business tax return. This is an automatic extension, so you don’t have to worry about your extension being approved.

Taxes must be paid by due date

The IRS says, “Form 7004 does not extend the time for payment of tax.” You must pay taxes due (estimated) by your tax return due date, even if you file an extension application. You will need to estimate as best you can because under-estimating can subject your business to fines and penalties.

Due Dates for Returns and Extension Applications

The due date for partnership and multiple-member LLC tax returns has changed, effective with 2016 tax returns and into the future. Partnership tax returns are now due on the 15th day of the third month after the end of your fiscal (financial) year. Since your partnership must end on December 31, the due date is March 15. (The old due date was April 15).

Tax return due dates vary by year. If the due date is on a weekend or holiday, the actual due date for that year is on the next business day. Extension applications for all business taxes must be filed by the tax return due date and taxes must be paid by the due date, even if an extension application is being filed. The taxes due must be estimated and the balance paid at the time the return is filed.

Corporate tax returns: Corporation tax returns are due and taxes are payable on the 15th day of the fourth month after the end of the company’s fiscal (financial) year (effective with 2016 tax returns), on Form 1120. So, a corporation with a year-end date of December 31 must file and pay taxes by April 15.

S corporation tax returns: S corporations must take a December 31 year-end to coincide with the tax return due date of the owners, so S corporation tax returns are due March 15, filed on Form 1120-S.

Partnership tax returns: Business tax returns for partnerships (including multiple-member LLC tax returns, which are considered as corporations) on Form 1065 are due March 15.

When the Extension Expires (and the Return is Due)

Corporations and S corporations have six months from the extension due date to file the tax return. So, a December 31 corporation would have until October 15 to file the appropriate tax return.

Partnerships and multiple-member LLC’s have six months from the extension due date to file the tax return. So, a partnership would have until September 15 to file the partnership tax return.

How to File Form 7004

The IRS introduced electronic filing to file your tax extension Form 7004, you can use http://ExtensionTax and eFile this extension request online. IRS would process and if everything seems to be ok, it accepts and we share you the acknowledgement instantly.

By filing your Tax Extension returns, your return could be processed faster, in no time and an acknowledgement is readily available. Online Tax Extension is smarter, simpler and faster. It is just $9.99 for a single Tax Extension return.

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6-months extension, Additional Extension of Time, Extension Form 2350, Extension Tax 4868, IRS form 4868

Tax Returns are Due April 18, not April 15.

Yes, this year tax returns are due April 18, not April 15. You should efile a federal tax extension for Tax Year 2016 by April 18, 2017, the same day as the deadline to efile a 2016 Tax Return. If you efile a tax extension, your new deadline to efile a 2016 Tax Return will be October 16, 2017.

Extension Tax online

The extension of time is automatic You just get the extra six months, period of time to complete your tax return. Extensions used to be four months, with two additional months only if you had a good reason. Now, automatic extensions are six months. Again, the extension is to File, not to Pay, make your payment and use the time to make your return accurate and complete.

Electronic Filing for Extension of Time

E-file saves you a lot of time and money… try electronic filing for your extension return and get it accepted in just minutes. Extension returns can be prepared and filed online at http://ExtensionTax.com an IRS authorized e-file website and from ThinkTrade, Inc.

E-file is just $9.99! which can push your deadline from April 18th to October 16th.

Extension Tax online

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Extension of Time to File Your Individual Tax Return

Need more time to prepare your federal income tax return? We’re here to support you in preparing and filing your extension of time request with IRS. We have information on how to apply for an extension of time to file.

Please be aware that an extension of time to file your return does not grant you any extension of time to pay your taxes. April 18 is the deadline for most to pay taxes owed and avoid penalty and interest charges.

With the income tax season winding down, the IRS wants to remind taxpayers how to request some extra time to file their return and the options they have to pay their tax bill.

If you need more time to file your return, you can get an automatic six-month extension of time to file from the IRS. You must file for an extension by the April 17 deadline. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the deadline, plus you may owe penalties.

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