There is a pressing need to act quickly because there isn’t much time left to file the C-corporation Form 1120 income tax return or an Extension Form 7004 for C-corporation 1120 to seek a filing extension. It’s not unfair to choose to save your hard-earned money for as long as possible, so you can make sure that you register and pay your taxes on or before the deadline to avoid IRS fines and interest. Keep one step ahead of the IRS by e-filing for an automatic 6-month extension of time to file the income tax returns. The deadline to file your C-corporation income tax returns (IRS Form 1120) is TODAY, April 15, 2021. The deadline to apply for a Form 7004 extension, which is an automatic extension of time for Form 1120, is also TODAY, April 15.
Continue readingTag Archives: Form 1120
The deadline to file an extension for C-corporation income tax returns (IRS Form 1120) is April 15, 2021. E-file now!
To give employers more cash in their paychecks, businesses were given the option to postpone withdrawing the employee’s share of payroll taxes on salaries earned between September 1, 2020, and December 31, 2020. Beginning March 27, 2020, you were given the option to delay the employer’s share of payroll taxes. Payroll taxes suspended during this time frame must be collected by April 30, 2021. To offset the balance that was withheld last year, you’ll need to subtract extra payroll tax from workers’ checks for the first four months of 2021. These taxes should be deposited in accordance with the daily salary withholding plan.
The tax filing deadline was March 15 for several companies, like most S corporations and partnerships. Since the move was announced after the deadline, this deadline remained unchanged. For C corporations, the April 15 deadline remains the same. Since sole proprietorships follow the same tax code as corporations, their 2020 returns must be filed by April 15, 2021. By filing Form 7004 along with a deposit equal to the amount of expected tax due, partnerships and S corporations may seek a six-month extension. The annual tax return, with interest and fees, is due on September 15 in this situation. Corporate tax returns for taxes earned in 2020 must be submitted by April 15, 2021. Businesses may use Form 1120 or file Form 7004 to make a deposit for the amount of expected tax owed to seek a six-month extension. This is also the deadline for the first quarterly projected tax payment of the year. You have until October 15 to file your income tax return using Form 1120 if your company has requested an extension. At this point, you’ll have to pay fines, interest, and any residual tax.
Continue readingThe deadline to file Form 1120-Scorp and Form 1065 Partnership tax extension is Today, March 15th, E-file Now!
The deadline to file Form 1120-Scorp and Form 1065 Partnership tax extension is today, March 15th, and it’s not too late to e-file an extension with www.Extensiontax.com if you need more time. Breaking a tax deadline will result in substantial fines and interest.
With less time to E-file Form 7004 for Tax Year 2020, the safest way to get it completed on time and escape the pitfalls of Interests & Fines is to use www.Extensiontax.com – A Think Trade Inc, product, an IRS Approved E-file Service Provider for E-filing Federal Extension Tax Forms & Excise Tax Forms.
Continue readingAre 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.
ExtensionTax.com One Stop Shop for Tax Extensions!
The exact Phrase to explain how tax extensions work is Filing for a Tax extension is “May I place you on hold for a while”. Filing for an Extension is nothing but keeping the IRS informed that you will file your Tax returns after a while. You may have more than enough money to pay off your Taxes but, you may not have the required paper works ready by the Due date. Extensions are more likely to be a gift given to tax payers by the IRS and the best way to file for it is through ExtensionTax.com.
www.ExtensionTax.com is an IRS authorized E-file service provider that supports E-filing for Extensions Online. Millions of taxpayers are benefited by this user friendly, hassle free application by E-filing their Tax extensions. The online portal has been designed in such a way that complex tax jargon’s are broken into simple understandable words, which makes it easier for a common man to file for an Extension.
What all can be done through www.ExtensionTax.com ? Continue reading