What is the extended federal tax deadline for business and individual filers?
Individuals who file a tax extension on time generally have until mid-October to file their tax return. Sole proprietorships, which are filed with an individual tax return, follow the same extended due date.
Calendar-year pass-through entities, such as partnerships and S-corporations, that file an extension on time generally have until mid-September to file. The extended federal tax return deadline for calendar-year C-corporations is usually mid-October. For a fiscal year partnership, S-corporation, or C-corporation, the rules for the extended due date vary depending on the end of their fiscal year.
The extended federal tax return deadline for LLCs can vary since an LLC can be taxed as either a disregarded entity, partnership, S-corporation, or C-corporation, depending on the number of members and any elections made with the IRS. The LLC’s extended tax due date is based on how it is taxed. You can find details on the IRS website.
Businesses and individuals impacted by certain natural disasters may have additional time to file and pay their taxes, even if they did not file an extension. For the most current disaster-related filing relief, visit the IRS disaster relief page.
Am I required to file different tax forms if I am filing after receiving an extension?
No, a tax extension does not require you to file different tax forms, whether filing as an individual or a business. You use the same tax forms regardless of whether you received an extension of time to file.
What happens if I do not pay any or all of the taxes I owe when I file for my extension?
An extension provides only additional time to file your tax documents— not to pay your taxes. If you do not pay all taxes due by the original due date, you may incur a failure to pay penalty along with interest charges.
The failure to pay penalty is generally 0.5% of the unpaid taxes for each month or part of a month the taxes remain unpaid, up to a maximum of 25%. The interest rate charged for unpaid taxes changes quarterly and is based on federal rates. You can find the current rate on the IRS interest rates page.
What happens if I file my taxes after the extension deadline?
If your taxes are filed after the extension deadline, you may incur a failure to file penalty.
- Partnerships and S-corporations: The failure to file penalty is typically assessed per member or shareholder for each month or part of a month that the tax return is filed after the extension deadline (or after the original due date if no valid extension was filed). This penalty is capped at 12 months and applies even if the business had no tax due.
- C-corporations: The penalty is generally 5% per month (or part of a month) that the return is not filed and taxes remain unpaid, up to a maximum of 25%.
- Individuals: The failure to file penalty is similar to that for C-corporations and is only assessed if you owe a balance after the original due date.
What if I am receiving a refund?
If you are due a refund, the failure to file penalty does not apply since you do not owe any taxes. However, the IRS allows only three years from the original filing deadline to claim a refund. If a return is not filed within that period, the refund is forfeited and becomes property of the U.S. Treasury.
Additionally, if you wait too long to file, the IRS may file a substitute return on your behalf — which may not include all deductions or credits you’re entitled to. To avoid losing your refund or deductions, it’s important to file your tax return promptly.
If you have questions about the extended federal tax return due date, penalties, or filing in general, reaching out to a Legal Pro is an easy and reliable way to get affordable legal or tax information.
Please note: This page offers general legal information, not but not legal advice tailored for your specific legal situation. Rocket Lawyer Incorporated isn't a law firm or a substitute for one. For further information on this topic, you can Ask a Legal Pro.
