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Business Tax Extension
Posted onIf you need more time to complete your business tax return, you can request an extension of time to file your return. However, even with an extension, you must estimate how much you owe and send in that amount by the due date. Otherwise, the IRS can invalidate your extension. For Corporations or Limited Liability Companies that use a calendar year, your due date is March 15th. Most business tax returns can be extended by filing Form 7004 by the original due date of the return. The IRS may hit your business with costly penalty and interest charges if you underestimate your taxes, file your return late, or do not furnish certain information by the due date. We assume your business entity is a calendar year taxpayer. In the event you are a fiscal year taxpayer, remember to adjust your due date.
For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Tags: Business Expenses, Corporation, Deductions, incorporation, Internal Revenue Service, Record Keeping, Small Business Taxes