Time to start working with your Business Income Tax Extensions that is getting due this March 15.

Tax time and you mush be getting your papers consolidated to report them with the IRS. In case if you’re not ready and need extra time to work with your tax returns, you could report an extension request to push your actual deadlines. Electronically report an Tax Extension Form 7004 with the IRS to push your deadlines from March 15 to September 15 and for certain businesses it is due on April 15 and push that to October 15.

2018 Tax Return Due Dates for Business Types 

• Sole proprietorship and single-member LLC tax returns on Schedule C (with the owner’s personal tax return): April 15, 2019.
• Partnership returns on Form 1065 with Schedule K-1 for each partner: March 15, 2019.
• Multiple-member LLC returns on Form 1065 with Schedule K-1 for each member: March 15, 2019.
• Corporation and S corporation returns on Form 1120 S with Schedule K-1 for each member: March 15, 2019.

eFile your Business Income Tax Extension Form 7004 in 3 simple steps…

IRS Tax Form 7004 is the Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns. For tax years beginning from 2017, the extensions of time to file tax returns for partnerships, certain corporations, and trusts and estates (other than bankruptcy estates) have changed. Form 7004 and the related instructions have been modified to reflect the changes effective for the tax year 2017.

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, who are not able to file by the original due date. You need to send in a request for this automatic tax extension well within the due date. Try electronic filing for faster processing of your request and to get a quick acknowledgement.

Applying for a business tax extension will extend your filing deadline, check out more here.

Businesses that needs more time can request a tax extension with IRS Form 7004, due March 15, 2019 or April 15, 2019 (depending on the type of business). Business extensions are automatic, and you don’t need to provide a reason for requesting more time. Depending on the type of business, the IRS allows 5 or 6 month extension period, starting from the date the tax return was originally due. For example, if a business obtains a 6-month extension and its original filing deadline was March 15, its new filing deadline is September 15. If you are planning to e-file Form 7004 to extend your filing deadline, the fastest way to do it is e-file through www.ExtensionTax.com.