Tax Chit Chat on Tax Extensions

Most elated greetings dear reader of the ExpressExtension blog. I hope today has been something of the wonderful sort. My mood could not be more delighted for the sun is shining, somewhere beyond those gray clouds. Optimism is the theme of the day and to lift your spirits about taxes, would you join me for a bit of a chit chat on how can assist you during the ever so stressful tax season.

I know it's a little early to be discussing taxes, but planning ahead never hurts. Unfortunate events always seem to pop up during tax season, causing your emotional state to become somewhat unsettled. That does not need to be the case this time. You may not be able to prepare for every unfortunate event that may happen, but you can always have a back-up plan. can be your first option, or back-up plan every tax season.

We provide three tax extensions that can save you from unnecessary IRS penalties:

  • Business Tax Extensions 
    • Form 7004 - Application for Automatic Extension of Time To File Certain Business Income Tax Information and Other Returns - has the ability to extend the filing deadline for 32 different IRS returns. The automatic extension time granted by the IRS is typically five (5) or six (6) months. The extension time is dependent on the return for which the extension is being filed. Types of business that can use Form 7004 includes: Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts and Estates.
  • Personal Tax Extensions
    • Form 4868 - Application for Automatic Extension of Time to File U.S. Individual Income Tax Return -  is an amazing little document that can extend the filing deadline of Forms 1040, 1040A, 1040EZ, 1040NR-EZ, 1040-PR or 1040-SS. The April 15th deadline is magically extended to October 15th, giving you plenty of time to file. The best part, you don't even need to explain why you need the extension, you just e-file Form 4868.
  • Nonprofit Tax Extensions
    • Form 8868 - Application for Extension of Time To File An Exempt Organization Return - can automatically grant an additional 3 months to file nonprofit tax returns. This form is unique in that it is compiled of two parts. Part I is your automatic extension of 3 months to file. Part II is e-filed for an additional 3 months of extension that is not automatic. The only nonprofit tax return Form 8868 cannot extend the deadline for is Form 990-N (e-postcard)

These extensions can be much appreciated during tax season. Why deal with the stress of deadlines and filing madness when you don't have to. You just need to remember the extended deadline. Well I do thank you for entertaining this little tax chit chat. There will be plenty more, I'm a bit of a Chatty Cathy. We can get more in-depth of each type of extension a bit later, I know your busy. See you again soon.

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