It’s high time for all businesses to file for an extension before the deadline to stay away from the last moment stress in relocating the tax documents. By applying for an extension, you can take your own time and relax yourself in preparing the tax report related to your business income during the year.  Despite of the pain and gain experienced by business owners, tax should be filed and paid on time. You are left only with seven days to file for an automatic Extension.

Use of Extension Form 7004

Form 7004 is to file for an automatic extension for your business income tax return. By filing this, IRS will offer you additional time i.e. 5 or 6 months depending upon your actual form type.  If you are new for filing business taxes, then the term extension would be really new to you and you can learn more by reading this blog. Continue reading →