Efile Your Income Tax Return Or Efile Extension Form 4868

Updates… updates… and only updates… With only 3 days left, we are here to update you about the income tax return due date which is falling on 15th of April. Assuming you are not ready with your documents, and you need extra time, you can always reach IRS for grace time by filing form 4868, the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.

Ok breaking the ice, we want to update you something more about the extension. This application doesn’t serve you with extra time to pay your dues, it only provides you with time to get your documents in place by October 15th 2015. While filing form 4868, you need to pay the taxes you owe to the IRS or penalties and interest won’t leave your way. You are not liable for any penalties if you pay your taxes and get an extension.

Forms That Are Eligible For An Extension:

If you are liable to file your income tax return via Tax Form 1040, Tax Form 1040A, Tax Form 1040EZ, Tax Form 1040NR, Tax Form 1040NR-EZ, Tax Form 1040-PR/ Tax Form 1040-SS, you can file form 4868 and gain 6 months extra time to get your papers ready.

However, when we talk about the set of people who are Outside The Country by the regular due date of the tax return, but they surely belong to the states, gain 2 months automatic extension to file and pay the taxes without requesting for one. The due date would be June 16th 2014. However, if you are falling on the above mentioned list, you need to file and pay your dues by the extended due date to avoid penalties. Continue reading →

FAQs On Form 7004

So filers, keeping you posted about the due date is almost like a routine for us. Business income tax return is due date not too far from our calendar. However, if you are not ready with your documents yet and you looking for extra time to get things in place, you can always file form 7004 through Extensiontax.com by 16th of March 2015.

If you fail to pay your tax or extension, you are liable to pay penalties along with the tax due.
Today, we have jotted down few of the frequently asked questions by our filers.

Purpose of IRS Form 7004:
Form 7004 is a request application that provides 5-month tax extension by partnerships, most estates and trusts, and most multi-member LLCs. However, 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. Continue reading →

Extend Your Corporate Tax Return Due Date By Filing Form 7004

It so happens that each time when tax due date is nearing; we have no time in hand to sit and categorize our documents in order to report tax to the IRS. And when we know the heavy penalties included, none of us would take a chance to file the form a day later. And that is the main reason, IRS have considered the same and introduced form 7004 as an application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.

Deadline for Form 7004
Due date for filing an automatic 5/6 month extension for your business is always on March 15th. Normally the due date for the corporate income tax return always falls on the 15th day of the third month. But for this year, the deadline for filing your return is March 16th as the date March 15th falls on a weekend, so the deadline is pushed to the next business day, which is Monday, March 16th.
Forms that apply for corporate tax returns are Forms 1120, 1120A and 1120S. Form 1120 is for the C-corporations for filing a tax return. Form 1120A is a shorter version of Form 1120 used by corporations for filing a tax return, Form 1120S is used by S-corporations(domestic corporation selected to be taxed as a corporation) to report the income gained, losses, deductions, credits etc. Continue reading →

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 →