Upcoming Tax Deadlines: How Businesses & Individuals Can Request an Extension to Avoid Penalties

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Tax season is in full swing, and while the January 31st deadline has passed, there are still important tax deadlines ahead in March and April. 

Whether you’re a business owner or an individual taxpayer, staying on top of these deadlines is crucial to avoid penalties and interest. But the good news is that the IRS allows you to request an extension, giving you extra time to file your returns. 

This blog will cover the key upcoming deadlines, how to request an extension, and how ExpressExtension can help you with the same.

Understanding Tax Extensions

Before we explore the upcoming 2024 tax year deadlines, it’s important to know how tax extensions work and how they can provide you with extra time to file your tax return. 

A tax extension allows you to extend the deadline for filing your tax forms but does not extend the time to pay any taxes owed. You must estimate and pay your taxes by the original deadline to avoid penalties and interest.

Form 7004 – Business Tax Extension

Applies to: Corporations, partnerships, trusts, estates, multi-member LLCs, and certain other businesses
Extension Period: 6-month automatic extension

Businesses filing Forms 1065, 1120-S, 1120, 1042, and 1041 can use Form 7004 to request an automatic extension. If approved, this extension provides additional time to file but does not delay any required tax payments.

Form 4868 – Individual Tax Extension

Applies to: Individual taxpayers, sole proprietors, and single-member LLC
Extension Period: 6-month automatic extension

Individuals who need extra time to file Form 1040 can submit Form 4868 for an automatic 6-month extension. While the extension grants more time to file, any tax liability must still be estimated and paid by the original due date to avoid interest and penalties.

Form 8809 – Extension for Information Returns

Applies to: Businesses filing certain information returns
Extension Period: 30 days (with an additional 30-day extension available in some cases)

Businesses that need additional time to file Forms 1099, W-2, 1042-S, and other information returns can submit Form 8809. The IRS grants a 30-day extension, with an option to request an additional 30 days under certain circumstances. 

Upcoming Tax Deadlines for Businesses & Individuals

Several tax deadlines are approaching in the coming months. Understanding these dates and available extension options can help you stay compliant.

March 2025 – Deadline for Partnerships, S Corporations, and More

Various forms are due in March that are applicable to partnerships, S corporations, and businesses handling U.S. source income for foreign persons. Filing on time helps ensure compliance and avoids penalties.

Form Name	Filing Deadline	Applies To	Extension Form
Form 1042 – Annual Withholding Tax Return for U.S. Source Income of Foreign Persons	March 17, 2025	Required for entities withholding U.S. source income paid to foreign persons (electronic and paper filing).	File Form 7004
Form 1042-S – Foreign Person’s U.S. Source Income Subject to Withholding	March 17, 2025	Required for entities distributing U.S. source income to foreign persons (recipient copy distribution and IRS/state filing).	File Form 8809
Form 1065 – U.S. Return of Partnership Income	March 17, 2025	Required for businesses classified as partnerships.	File Form 7004
Form 1120-S – U.S. Income Tax Return for an S Corporation	March 17, 2025	Required for businesses classified as S corporations.	File Form 7004

April 2025 – Key Deadlines for Individuals and Corporations

April marks a critical month for tax filings, with deadlines for individuals, corporations, and estates & trusts. 

Form Name	Filing Deadline	Applies To	Extension Form
Form 1040 – U.S. Individual Income Tax Return	April 15, 2025	Required for individuals filing federal income tax returns with the IRS.	File Form 4868
Form 1120 – U.S. Corporation Income Tax Return	April 15, 2025	Required for businesses classified as corporations.	File Form 7004
Form 1041 – U.S. Income Tax Return for Estates and Trusts	April 15, 2025	Required for estates and trusts reporting income, deductions, and distributions.	File Form 7004

Key Considerations When Requesting a Tax Extension

• An Extension Does Not Extend the Time to Pay Taxes – Filing an extension only provides additional time to submit tax returns, not to pay taxes owed. Estimating and paying the tax liability by the original due date is essential to avoid penalties.
  
• File Before the Original Deadline – Extension requests must be submitted on or before the filing deadline to be valid. Late filings may result in higher penalties compared to late tax payments.
  
• Keep Records for Verification – Retaining proof of extension filing, such as an e-file confirmation or mailing receipt, is crucial in case of IRS inquiries.
  
• Avoid Common Filing Mistakes – Ensuring accurate details, including the correct tax year and business information, reduces the risk of IRS rejection. If filing by mail, using the correct IRS mailing address is essential.
  

Simplify Tax Extensions with ExpressExtension

ExpressExtension offers a fast and secure way to file your IRS extension forms online. The platform provides various features to streamline the process, including:

• Express Guarantee – A full refund of the filing fee if the IRS rejects Form 4868 or 7004 due to a duplicate filing.
• Copy Return Feature – Quickly replicate data from a previously accepted return to simplify future filings.
• State Tax Extensions – Easily fill out and download state tax extension forms, including instructions on where to mail them.
• Instant IRS Updates – Receive real-time notifications on the IRS status of extension requests.
• Volume-Based Pricing – Cost-effective bulk filing with prepaid credits for businesses handling multiple extensions.
• World-Class Customer Support – Get assistance through phone, email, or live chat for guidance during the filing process.

Get Started with ExpressExtension Today

Creating an account is free, and filing an extension takes just minutes. Ensure compliance and avoid penalties by filing your IRS tax extension today with ExpressExtension.

Create a free account today and start requesting an extension with ExpressExtension!