Hello taxpayers, IRS made e-filing possible to apply for business tax extensions online through its authorized e-file service providers. You can choose your convenient best e-filing service provider to e-file form 7004 business tax extension to get the additional time to report your taxes to the IRS. The deadline to e-file business tax extension form 7004 is March 15th, 2022. You will get an automatic tax extension time of six months to file your complete reports along with the supporting documents for the tax year to the IRS. But the six months tax extension period is not applicable for tax due payments. You should estimate your tax payments and pay them fully by March 15th. You will get the time till September 15th, 2022 (six-month extension time) to submit all the documents to the IRS without any late charges and interests.
Extensiontax.com is the first tax extension forms e-filing service provider to get approved and authorized to officially facilitate tax extension applications from the IRS. Let us look into the benefits and comforts of e-filing form 7004 business income tax extension at extensiontax.com.Continue reading →
Hello taxpayers, IRS offers tax extensions to report your business tax forms 1120, 1165, 1120S, and other associated business tax forms for additional six months. You should file the tax extension Form 7004 to the IRS to apply for tax extensions for submitting your business tax reports. However, IRS doesn’t allow any extension for your tax payments. You should estimate the tax amount and pay them fully before the deadline for your respective business tax form for your business/organization.
Paying taxes is not optional – it’s the law. Taxpayers do have options when it comes to how they pay their taxes. The IRS offers several easy ways to pay taxes. Taxpayers can pay online, by phone or with their mobile device using the IRS2Go app, just to name a few. Some taxpayers must make quarterly estimated tax payments throughout the year. This includes sole proprietors, partners, and S corporation shareholders who expect to owe $1,000 or more when they file. Individuals who participate in the gig economy might also have to make estimated payments.
Taxpayers should remember a few important things.
An extension of time to file a return is not an extension of time to pay.
Taxpayers should pay any taxes they owe by the March 16 deadline to avoid possible penalties and interest.
The extension request must be filed electronically or postmarked no later than March 16, 2020.
Not yet ready with all the required paper work to report the taxes, and looking to seek additional time with the IRS? then you must file the extension application by the due date of your business tax return. Corporate tax returns (Forms 1120, 1120-A, and 1120-S) or partnership tax return (Form 1065) filers have to report Form 7004 for an automatic 6-month extension of time to file the return by September 15. Do remember to make the deposit on the Form 7004 return, of what you estimate you owe in tax. Form 7004 extension request is due by March 16, 2020.
The IRS strongly encourages people to file their tax returns electronically and choose direct deposit for faster refunds. Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. The IRS says, “Form 7004 does not extend the time for payment of tax.” You must pay taxes due (estimated) by your tax return due date, even if you file an extension application. You will need to estimate as best you can because under-estimating can subject your business to fines and penalties.
Extension Application with ExtensionTax.com:
We’re the leaders in Federal Excise Tax online reporting and started supporting Federal Extension Applications since 2010 to make it more affordable and economic for our excise users and now we’re support many individuals and businesses to report the federal extension application online. Electronic filing provides fast acknowledgement that the IRS has received the return and reduces normal processing time, making compliance with reporting and disclosure of requirements easier. Electronically through http://ExtensionTax.com an IRS Authorized e-File Provider at just $14.99. Simple steps and clear work flow to complete the return faster and receive back an acknowledgement quicker.
We have a dedicated team of support agents to help you through your extension application and address any questions that come-up in the process of efiling. Reach us at 866 – 245 – 3918 or write to us at support@extensiontax.com.
Business taxpayers it is your time now, as the taxes are up
for due this March 15 and April 15certain corporates or LLC or
partnership firms have to react. When you need additional time to work with
your paper work submit in your Internal Revenue’s Application for Automatic
Extension of Time To File Certain Business Income Tax, Information, and Other
Returns—Form 7040 now. Form 7004 is the form used to file for an automatic
extension of time to file business tax return for firms that comes under
partnership, a multiple-member LLC filing as a partnership, a corporation, or
s-corporation. This application will only extend the time to file and not the
time to pay the taxes.
You must file this extension by the due date of your business tax return. This is an automatic extension, so you don’t have to worry about your extension being approved. However we shall keep you updated by sharing an email on your acceptance status. Make sure the return is filed with the IRS before the actual deadline to avoid last minute surprises.
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 →