Category Archives: Tax Extension

Are you a Corporate or S-Corp? Know your Extension Form Type in Form 7004

A C-Corp pays income tax by filing a tax return with the IRS using Form 1120 – U.S. Corporation Income Tax Return, and an S-Corp using Form 1120S – U.S. Income Tax Return for an S Corporation.

The deadline to file an extension Form 7004 for 1120 and 1120-S is 15th day of the 3rd month after the end of the tax year of the return. For example, if the close of your business tax year is December 31, 2018, your completed form must be received by the IRS by March 15, 2019.

1120 and 1120-S returns, both gives you a 6 months extension of time to file your tax returns. Meaning 1120 & 1120-S will extend your filing deadline to September 15.

However, these forms may be complicated and can consume a lengthy process, with less time in hand to E-file Form 7004 for Tax Year 2018, the best way to get it done on time without facing the hazels of Interests & Penalties is by E-filing your Federal Extension Tax Form 7004 through www.Extensiontax.com an IRS Authorized E-file Service Provider for E-filing Federal Extension Tax Forms & Excise Tax Forms.

Do remember that filing an Extension only gives you more time to prepare and file your tax form. IT DOES NOT PROLONG THE TIME TO PAY YOUR TAXES. Business Income Taxes you owe has to be paid on the actual due date, which is March 15, 2019.

Every minute you delay thinking about your choices, is taking you close to penalties and Interests. Log on to www.Extensiontax.com right away and E-file your Form 7004 now. For any queries you may have feel free to reach our Tax Experts @ 1-866-245-3918 or you may even write to them @ support@extensiontax.com.

E-File your Business Income Tax Extension Now!

“Its tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta” – Dave Barry.

It is not at all wrong to have a thought to file your business income taxes on time, but one should make sure that they file it correctly with all the required supporting documents & pay their taxes on or before the deadline that falls on March 15th to safeguard themselves from IRS penalties & interests. Only very few have all the necessary documents handy to submit their Business Income Taxes on time. What about Others?

Well, it is a well known fact that most of us fall under the others category mentioned above. Here is what you can do to protect yourself from IRS penalties & Interests. E-file Form 7004 – Extension of Time, to file your Federal Business Income Tax. It is the only available solution to legally procrastinate your Tax filing. How to file it? Even simpler www.Extensiontax.com that’s where you can get it done within minutes. Continue reading →

Form 7004 deadline is around the corner, March 15 is the Due Date

The Business Income Tax Filers can extension the deadline beyond March 15 by reporting Business Income Tax Extension Form 7004 by March 15th for certain business types. Even though you are filing an application for an extension, you must pay any taxes due by the regular tax return due date, depending on your business type. There is only one extension allowed per tax year. You can’t keep getting multiple extensions.

Maximum extension period.

The automatic extension period for time to file is generally 6 months. Exceptions apply for certain filers of Form 1041 and for C corporations with tax years ending June 30. An estate (other than a bankruptcy estate) and a trust filing Form 1041 are eligible for an automatic 5½-month extension of time to file. C corporations with tax years ending June 30 are eligible for an automatic 7-month extension of time to file (6-month extension if filing Form 1120-POL). See the instructions for Part II, lines 2 and 4, for exceptions for foreign corporations, certain domestic corporations, and certain partnerships with books and records outside of the United States and Puerto Rico. The due date varies based on the tax filing period and the type of business you operate.  Continue reading →

Not Ready to File Business Income Tax Return? Request a Tax Extension with Form 7004

The March 15th deadline to file your business income tax return is almost here. Have you filed your return yet? There is still some time left. Maybe you’re still waiting on documents, or maybe you’ve just been too preoccupied with work and life to prepare your return. Whatever the reason may be, the IRS will grant you tax extension to file your return in case you are not ready.

If you need more time to file your taxes, you should definitely request an extension sooner than later. It’s always better to extend than to file an incorrect return and have to amend it later. With that in mind, it’s important to note, filing an extension grants you additional time to file your return, but not to pay the tax due.

If snail mail isn’t your thing, you can e-file your extension using www.ExtensionTax.com and make an estimated payment online using IRS Direct Debit Payment Option. ExtensionTax offers a secured service that lets you pay directly from a checking or savings account, and will send you an instant confirmation that your extension request was accepted and your payment was submitted. Just make sure you choose the correct form and tax period to let the IRS know where to apply your payment.

It is challenging to calculate the estimated amount-due to be paid if you’re not prepared to file, but if your tax situation has not changed much since last year, you can send the same estimated amount with your extension tax form 7004 and extend your filing date.

If you didn’t file for an extension by March 15th deadline, your extension request won’t be accepted by the IRS. So just do whatever it takes to e-file your 7004 return right away, the sooner the better. Remember, a return that is filed even one day late is considered late and the penalty will be levied by the IRS. Don’t waste several thousand dollars that you would likely owe in penalties if late, e-file Form 7004 for just $14.99 and take some extra time to review your return to make sure everything is complete before sending it in.

Talk to us at 1-866-245-3918 (toll free) for any assistance or write to us in support@extensiontax.com.

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.

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