Author Archives: Peter Samuel

Form 7004: Extension on Business Tax Returns

ExtensionIRS Form 7004, officially known as the “Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns,” is a request for an automatic extension of time to file certain business tax returns. The deadline to file a Business Tax Extension is March 15th. The extension will be granted by the IRS if the business:

 

 

 

  1. Complete IRS Form 7004 properly
  2. Make a proper estimate of the tax (if applicable)
  3. File the form by the due date of the return to which the Form 7004 applies,
  4. Pay any tax that is due.

An IRS Form 7004 can be submitted to automatically extend the filing deadline for 32 different IRS returns. The IRS grants automatic extensions of six (6) months, on the return for which the extension is filed. The eligible returns and length of automatic extensions are listed below: Continue reading →

Claim Extension of Time online to file your Income Tax

Exempt Organisations across USA file their income tax returns on 990 series of forms based on the type of business they are into. It is not at all unusual for an organization to need an extension of time to file their Form 990. Sometimes the annual audit isn’t finished, sometimes the CPA is too busy, sometimes the financial records are not yet in order. Whatever the reason, the first extension request is automatically granted. But you still have to file the extension request form on or before the due date of the Form 990. If you are one day late filing the extension request, it is not valid and the IRS will charge a penalty each day the Form 990 is late.

If you have claimed extra time and still you need of some more time to complete your returns you can claim Form 8868 well with in 15th of August.

Get Extra Time!

Check out the due dates for Exempt Organisations as Corporations and Trust

You cannot ask for 6 months with the first extension. You only get 3 months per request, for a maximum of 6 months. This is the time to file your 2nd request with the IRS. Part 2 of Form 8868 is used to request an additional 3 month extension. You’ll need to give a reason.

If your organization is required to file Form 990-T because it has Unrelated Business Taxable Income, and if you need an extension of time to file Form 990-T, you must file a SEPARATE Form 8868 for the 990-T.

You only need to apply for one extension for the 990-T because the extension that pertains to the 990-T is for 6 months.

 

Business Tax Deadlines are Right around the corner

The deadlines for businesses are coming up really soon, and if you still need to get all your information together, you should invest in a business tax extension and receive more time to file. A filing extension is automatic – you get it simply by asking the IRS for it.

But you must file the request for an extension by the deadline you’re expected to meet for filing your return – not to mention that different types of businesses have different due dates and extension periods. Check the following to see which deadline applies to you. Continue reading →

Important Tips for E-Filing Extension Form 7004

Do you own a corporation but don’t think you’ll complete your 2015 corporate income tax return by the March 15 deadline? This article explains how to file an extension online without a hitch, giving you time till September 15 to file the return.

If your small business is a corporation, your 2015 corporate income tax return is due on Tuesday, March 15, 2016. Continue reading →

From 7004: Deadline Alert.

March 15th will be the deadline to file your business income tax return and if you need more time to file, it’s not too late to e-file an extension with www.Extensiontax.com . Missing your tax deadline can incur hefty penalties & Interests. Extensiontax.com is your one-stop e-filing solution for IRS tax extensions. E-filing an extension for your business tax return is quick and easy… Continue reading →