How to Get an Extension when Filing Business Income Tax Returns

If your business is not ready to file a federal income tax return by April 15th, you can request a 6-month extension to October 15th. You don’t have to give a reason for your extension request, and you don’t even have to sign anything. However, this extension merely gives you more time to file your return: you must still PAY your balance on tax day. Otherwise you risk being charged interest, or incurring penalties on the amount you owe.

To get an extension when filing your business income tax return, you’ll need to file form 7004 Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns, which is available at the IRS website.

If you are living outside the US at filing time, and not just on vacation or a business trip, you are eligible for an automatic filing extension to June 15th (you don’t need to fill out any forms for this). You can also file form 4868 Application for Automatic Extension of Time to File US Individual Income Tax Return if you need additional time to file, and get four more months of extension till October 15th.

For more information about business taxes, go to www.irs.gov.

Laws on this topic may vary from state to state. This content is not meant to provide you with complete information and it is not intended to be legal or tax advice. It is recommended that you consult with your own attorney, accountant or other advisor regarding your specific situation.