How to E-File Your Business Tax Extension
If you cannot file a Federal Business income tax return by the March 15th deadline, you can apply for an automatic 6-month extension of time to file. You can eFile IRS Form 7004 (Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns) by the original filing deadline and have until September 15th to prepare your taxes. Business Returns for S-Corporations, Partnerships and Multi-Member LLC’s are due no later than March 15th.
By filing IRS Form 7004 no later than March 15th, you extend the deadline for filing your return to September 15th. Returns for C-Corporations are due no later than April 15th; By filing IRS Form 7004 no later than April 15th, you extend the deadline for filing your return to October 15th. It is important to note that you must file for your extension prior to your return due date. The IRS will not approve extensions filed after the return due date and they do not allow for second extensions beyond the extended due date.
At TaxExtension.org, it only takes a few minutes to extend your filing deadline. Our team of tax professionals and product experts has designed an easy-to-use online application that guides you through the process of submitting Form 7004 to the IRS. Here’s how you can get your business tax extension online with us:
First, Provide Your Business Information
The IRS requires that you provide certain business information in order to file a tax extension — including the business name, address, entity type (C-Corp, S-Corp, LLC etc) and employer identification number (EIN). You don’t have to worry about digging up past tax returns or other tax forms and your data is protected by our first-rate security technology and is shared only with the IRS.
Next, Calculate Your Business Tax Liability
Filing IRS Form 7004 is a request to extend your time to file your business return. It is important to note that it is NOT an extension of time to pay any taxes you may have due. When you request an extension, you must provide an estimate of your tax liability (if any) for that year. In calculating your estimated taxes, include any estimated tax payments you made for the tax year in determining the estimated tax owed. The IRS allows you to estimate what, if any, tax liability you will have when you file your return but to avoid penalty and interest charges, you must pay at least 90% of your businesses eventual tax bill for the current filing year or 100% of your businesses prior year tax bill. TaxExtension.org makes it easy to make your estimated tax payment directly from your business bank account via Electronic Funds Withdrawal (EFW), which will help you avoid IRS late fees and interest charges.
Lastly, Submit Your Application
Click “Submit” to electronically file Form 7004, and you’re done! We will send your business extension application (and tax payment) directly to the IRS. You can even login to our system and check the status of your extension any time of day. As soon as the IRS approves your tax extension, we send you a confirmation email — something you never receive if you file a paper tax extension.
In the rare case that your tax extension is denied, we will help determine why — and, after fixing any mistakes, you can re-submit your extension for free. The IRS gives you a few extra days (usually 5 days after the return due date) to fix errors and re-submit your extension. It’s important that you have the correct Business name, EIN and enty type when you file your business tax extension. As long as your information agrees with the IRS’s records and you file your extension by the filing deadline, you should have no problem getting approved — which is why it’s called an “automatic extension.”
As an authorized IRS e-file provider, TaxExtension.org protects your personal data with the latest technology and daily security scans. This allows our customers to e-file and pay online knowing that their information is kept private.