How to Use Form 8736 for Extension of Time to File a Partnership Tax Return

Filing tax returns for a partnership can be complicated. Therefore, it is important to have all of the necessary forms to accompany the tax return. If you find that you are missing documentation and will not be able to file taxes as a result of the missing paperwork, you must request an extension of time to file your partnership tax returns. Here's how to request the tax return extension.

Instructions

Difficulty: Moderately Challenging

1. Decide if you need to file Form 8736. If your business is a partnership and is unable to assemble the appropriate documents to complete your federal tax forms in time for the April 15th tax deadline, you will need to file a tax return extension. Form 8736, once approved, provides an automatic 3-month extension to file the appropriate documents.
2. Obtain Form 8736 from the IRS website. Form 8736 "Application for Automatic Extension of Time to File U.S. Return for a Partnership, REMIC or for Certain Trusts" is available for download from the Internal Revenue Service website (see below).
3. Complete the form in accordance with the instructions. The instructions are self explanatory, however, if you are having difficulty in completing the form, contact your accountant or visit the IRS website for assistance.
4. Submit the form prior to the tax-filing deadline. If you do not file the extension prior to the tax deadline date, you will incur late payment penalties and fines.
5. Filing the form may give you an extension to file the appropriate documents, but it does not give you an extension on paying the taxes owed. You must pay the estimated taxes owed by April 15th.

Tips & Warnings

• If you need an extension for more than one return, you must complete a separate form for each return. The IRS does not accept blanket requests under one form.