How to File for a Business Tax Extension

The tax deadline is rapidly approaching and you noticed that you do not have all of the necessary documentation to file your business taxes. The reason for the delay may be out of your control, but that doesn't make a difference to the IRS. To avoid penalties and interest charges you will have to request an extension to file your taxes. Here's how to file for a business tax extension.

Instructions

Difficulty: Moderately Challenging

1. Evaluate your situation. Take time to determine whether or not your company needs to file an extension. If burning the midnight oil can get the texts filed on time, then you may not need an extension. However, if you are missing forms and cannot assemble all of the necessary documentation, then you will have to file for an extension to file your returns.
2. Download the correct form. The Internal Revenue Services has several forms for filing a business tax extension. There's Form 8809 for businesses, Form 8736 for a partnership and Form 7004 that gives an extension for businesses to file 'certain business income tax documents.' These are only a few of the available forms. Be sure to select the one that suits your needs. If you are unsure, contact your accountant or speak to someone from the Internal Revenue Service (see Resources below).
3. Complete the tax extension form. Once you've downloaded the correct form, complete it in accordance with the instructions provided.
4. Submit the forms to the IRS. You must submit the forms prior to the tax deadline date. If you do not send them in before the tax deadline, you will incur penalties and fines.

Tips & Warnings

• Although the IRS has various forms that grant extension for filing your business tax returns, none of the forms provide an extension for paying the taxes. The amount of taxes owed must be mailed to the government on or before the tax due date.