Hello tax filers, we are pleased to welcome you all to our new blog post. We all know that IRS has provided the taxpayers with Extensions to file their return within the extended due date. And today we would be discussing about the extension filed through ExtensionTax.com.
We all know that there are certain circumstances where you may not be in a position to file your tax return by the deadline mentioned by IRS. And here, you can apply for an extension of due date, depending upon the tax form. However, if the extension is not filed on or before the due date, you would deal with penalties and late filing fee, which is not so welcoming. It is important to pay your estimated tax due, before April 15th while filing your extension.
Let us discuss about the variety of extensions you can apply through ExtensionTax.com.
Individual Income Tax Extension:
File Form 4868 to get an Automatic Extension of Time To File U.S. Individual Income Tax Return. This extension would provide you 6 more months to file your return. Usually, the due date falls on 15th April for calendar year tax payers and your extended due date would be 15th of October. If the due date falls on a weekend, then the next business day would be treated as the due date.
Business Income Tax Extension:
Companies and corporate looking for extra time can file Form 7004 and avail Automatic Extension of Time to File Business Income Tax, Information, and Other Returns. However, depending upon the form you filing, the due date would vary. Refer the tax form below for better understanding:
Tax Form Eligible For Automatic 5 Months Extension
Form1065, Form 8804, Form 1041(estate), Form 1041(trust)
Tax Form Eligible For Automatic 6 Months Extension
Form706-GS (D) Automatic 6-month extension
Form 1042, Form 1120-C, Form 1120-L, Form 1120-POL, Form 1120-SF, Form 8725, Form 8928, Form 706-GS (T), Form 1065-B, Form 1120-F, Form 1120-ND, Form 1120-REIT, Form 3520-A, Form 8831, Form 1041-N, Form 1066, Form 1120-FSC, Form 1120-ND (section 4951 taxes) , Form 1120-RIC, Form 8612, Form 8876, Form 1041-QFT, Form 1120, Form 1120-H, Form 1120-PC, Form 1120-S, Form 8613, Form 8924.
Exempted Organization Tax Return Extension:
This is an Application for Extension of Time to File an Exempt Organization Return and can be filed through Form 8868. Here, 3 months extension of time (6 months for corporation and should file form 990-T). These organizations can file for additional (Not Automatic) 3 months of extension if the original 3 months is not sufficient to prepare their papers. However, do note, both the extensions cannot be filed at the same time.
Individual Income Tax Return for U.S. Citizens and Resident Aliens Extension:
This form is an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return for U.S. Citizens and Resident Aliens Abroad Who Expect to Qualify for Special Tax Treatment through Form 2350. Individuals who are residing outside U.S and do qualify for foreign earned income exclusive or for foreign housing or exclusion deduction by meeting either the bonafide residence test or the physical presence test but there should be no due of tax.
Also, if the tax home is your foreign country throughout your tax period, a bonafide residence or physical test applies.
However, this is not the end. You can get in touch with your tax experts @ 1-866-245-3918 or shoot an Email to support@extensiontax.com in order to get a clear idea about these extensions. In addition, we look forward for your valuable comments and feedback about our application. Your satisfaction is more important for us.