Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Question for today’s post:
I am self-employed. What kind of tax extension should I file?
Answer:
Great question. This one seems to come up more and more every year, especially nowadays when more people are taking the leap to start their own businesses.
If you are self-employed as a sole proprietor (filing a Schedule C), a contractor (1099), or a single member LLC, you only need file a personal extension (Form 4868) to extend both your personal and business income tax deadline.
If you have another business type, such as an S-Corporation, you will need to extend your business deadline by filing a corporate tax extension (Form 7004).
If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question is one of the more common questions I get asked:
If I am a partner in an LLC or partnership, do I have to file both a personal and a business tax extension?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question has to do with business tax extensions, also know as Form 7004:
Do I have to use my Social Security Number when I e-file my business tax extension, or will I use my Tax-ID (EIN) number?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Question of the day:
How long does it take to hear back from the IRS on approval for a personal tax extension?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Question:
What could cause a tax extension to get rejected by the IRS?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question:
I can’t pay my taxes on time, so I am filing a tax extension. Does the IRS offer payment plans for unpaid taxes due?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question:
I filed for a federal tax extension but cannot pay any of my tax liability – what happens now?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question:
I had to make a payment for federal taxes with my tax extension. What do I need to do for my state?
