Category Archives: Extension Tax

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Efile Your Business Income Tax Extension Form 7004 With ExtensionTax.com

In this taxation world, every corporate business, partnerships and certain trusts are mandate to file and report tax through the applicable tax form. However, there are times when you really don’t have time to file and report your tax. and in such cases, you can file an extension via form 7004 on or before the due date of your income tax return, i.e. 15th of March. Additionally, we have good news for you. Usually, IRS do not accept tax return during the weekends, and if the due date falls on a weekend, the next business working day is treated as the due date to file and report the extension or the tax form. The same implies here, as 15th of March is falling on a weekend, 16th of March is treated as the due date to file and report the income tax return or if you are filing the extension.

All You Need to Know About IRS Form 7004:

IRS form 7004 is filed to extend the time duration for filing certain income tax returns. However, there is one point you need to remember, these extensions serve you with grace time to report not to pay your tax. You are liable to pay your dues to the IRS when you are filing this extension. Also, extensions would be granted only if proper estimation is made and filed by the actual return date for which this extension applies. Continue reading →

Form 7004- The Application To File Business Tax Extension

Yes, it is indeed a long time since we had our last update here at ExtensionTax.com. It is easy to get overwhelmed when it comes to anything tax-related, and getting federal business tax extension is no exception. ExtensionTax.com wants you help you in understanding the business extension process. We have jotted few of the questions:

Who Can Use IRS Form 7004?

Form 7004 is a request application that serves you with 5-month tax extension by partnerships, most estates and trusts, and most multi-member LLCs. Most other types of business entities (including C corporations, S corporations, foreign corporations, REMICs, and REITs) can use Form 7004 to request a 6-month tax extension.

What Is The Due Date For Filing A Business Tax Extension?

You must file a business tax extension by filing form 7004 by the original due date of the tax return. For corporations, this deadline is the 15th day of the 3rd month after the close of the tax year (March 15 for calendar year filers). For partnerships, as well as most estates, trusts, and multi-member LLCs, this deadline is the 15th day of the 4th month following the end of the tax year (April 15 for calendar year filers). Continue reading →

Apply For Extension Of Time To File Business Income Tax Through Form 7004

Every corporate business, partnerships, and certain trusts are mandate to file and pay tax through the applicable form. However, due to the time constraint and the workload, IRS has considered this and provided taxpayers with extra time to file your tax return if they file an extension.

What Is Form 7004?

This is an application for Automatic Extension of Time to File Business Income Tax, Information, and other returns, allowing you to gain extra time to report IRS with the required documents if you don’t have them handy. The due date to file form 7004 falls on 15th of March and it is liable to file the extension by the due date if you wish to gain extra time to report IRS with your business income tax.

However, this year 2015, March 15th is falling on a weekend, and thus, 16th of march would be the due date to file and report form 7004. Do note, extension would be granted only if proper estimation is made and file by the actual return date for, which this extension applies.

The form is divided into 3 different parts. Part I is for filers who are filing for 5 months extension and part II is for 6 months extension filers. However, part-III is mandatory for filers to file and submit, which contains details about your organization, amount due and balance to be paid to IRS. This form should be mailed to IRS on or before the due date. If you’re efiling withExtensionTax.com, the whole procedure is simplified and converted into one application. Key in your information, the application would take care of the rest.

Depending upon the form, you can gain 5 months and 6 months of extension. You are mandate to file your tax return by the end of the extended time i.e. 15th of October. Continue reading →

Is Paying Taxes Online With Extensiontax.Com A Safer Option?

These days, efiling is creating hype in the virtual world. And it is leaving its imprint behind. With the technology moving steadily, it is our responsibility to take a leap and experience anew. Most of the extension tax filers prefer filing their extension online as efiling has its own set of advantages, with minimal disadvantage. And this leaves with a large room for taxpayers to come over and efile their return. Continue reading →

What Are Automatic Extensions? Discover The Unknown

IRS has always been very lenient with tax filers, providing every possible support and helping hand to them. And here comes the entry of filing an extension and requesting for extra time to get your paper work. However, when it comes to filing an extension, what are our first thoughts? Why these extensions are named automatic but they are not? They come with a prefix “Automatic” but we need to file extension form and pay the dues. So what is the point of using the term automatic? Continue reading →