Tag Archive for Automatic Extension

Automatic Extension Request of Time to File Personal Income Taxes: IRS Form 4868

Income tax forms and payment are due AGAIN. Don’t sweat it, file IRS Form 4868 today!

Remember this is an Automatic 6 month Extension Request for time to file IRS Form 1040 only.

It is not an extension of time to pay your federal and (where applicable) state income taxes.  You are always best served estimating your tax liability and paying that liability in full to the US Treasury as well as with most all states on or before April 15th. If you cannot pay what you estimate you owe, STILL FILE IRS FORM 4868 to secure your automatic extension request.

Why?

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Written by | Posted in Income Tax • Individual • IRS

IRS Form 7004 Automatic Extension To File Certain Business Income Tax, Informaton, and Other Returns

If your corporation, partnership or estate operates on a calendar year basis the tax return is due March 15th which is coming up! If you need additional time to file tax returns for these entities file IRS Form 7004 which is an application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.

Filing this form by March 15th gives you an additional 5 or 6 months to file your actual tax documents. Instructions for this form are essential so be sure to read them.

If you connect with me (or any tax practitioner worth their salt) to hit this deadline the first thing that you will be advised to do at this late date is to get this automatic extension request filed. If anything it alleviates the stress of rushing through the tax return AND you avoid the onerous late filing penalty.

Written by | Posted in Corporate • Federal • Individual • North America