Business Income Tax Extension Questions
What is the due date for filing my business income tax extension?
Corporations, including S-corporations, operating on the calendar year for tax purposes must file for their business tax extension by 11:59PM on the 15th day of the 3rd month following the close of their tax year (typically March 15). Partnerships, LLCs, and sole proprietorships have until 11:59PM on the due date of their personal income tax return (typically April 15) to file for their tax extension.
Is it a problem if I submit for a tax extension before the deadline but don’t hear back by the midnight IRS deadline?
Not at all! The IRS allows a few days for you to be officially approved for a tax extension. This means that you also generally have a few days after the deadline to fix any possible errors that might cause rejection.
How long does it take to hear back from the IRS on approval for a business tax extension (IRS Form 7004)?
You will generally hear back within 24 hours on the status of your business tax extension. Remember that as long as you submit your extension request before midnight on the IRS deadline, your application will be marked as submitted "on time."
Once my tax extension is approved by the IRS, when is my extended tax return due?
C-corporations, S-corporations, and certain LLCs are given an extended tax deadline of 6 months (September 15 if they are operating based on the calendar year, versus the fiscal year). Partnerships, trusts, certain estates, and some LLCs are given an extended due date of 5 months (generally to September 15).
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?
For most business types, you will simply need your Federal Tax ID number — also called your Employer Identification Number (EIN) — to file your business tax extension (IRS Tax Form 7004). If you are requesting an extension for a single-member LLC business, you should file for a personal tax extension (IRS Tax Form 4868) and use your Social Security Number (SSN) rather than your EIN.
If I am a partner in an LLC or partnership, do I have to file both a personal and business tax extension?
Yes. Since most multi-member LLCs and partnerships are required to file a separate tax return for the business, you will need to file a separate business tax extension well as a personal tax extension.
What business income tax forms are extended and submitted by using FileLater?
FileLater services will electronically file IRS Tax Form 7004 for your business income tax extension. This will give you a 5- or 6-month extension for partnerships, multi-member LLCs, corporations, estates, trusts, and more. Our user-friendly application will help you choose the proper business entity type. Here is a list of the IRS business tax forms that FileLater can help you extend:
- Tax Form 1065
- Tax Form 8804
- Tax Form 1041 (estate other than a bankruptcy estate)
- Tax Form 1041 (trust)
- Tax Form 706-GS(D)
- Tax Form 706-GS(T)
- Tax Form 1041 (bankruptcy estate only)
- Tax Form 1041-N
- Tax Form 1041-QFT
- Tax Form 1042
- Tax Form 1065-B
- Tax Form 1066
- Tax Form 1120
- Tax Form 1120-C
- Tax Form 1120-F
- Tax Form 1120-FSC
- Tax Form 1120-H
- Tax Form 1120-L
- Tax Form 1120-ND
- Tax Form 1120-ND (section 4951 taxes)
- Tax Form 1120-PC
- Tax Form 1120-POL
- Tax Form 1120-REIT
- Tax Form 1120-RIC
- Tax Form 1120S
- Tax Form 1120-SF
- Tax Form 3520-A
- Tax Form 8612
- Tax Form 8613
- Tax Form 8725
- Tax Form 8831
- Tax Form 8876
- Tax Form 8924
- Tax Form 8928
Don’t worry if you don’t know which tax form is associated with your business. We’ll figure that part out for you. FileLater can also help you extend your personal income tax return. To learn more about personal income tax extensions, visit our Personal Income Tax Extensions center.
If I am self-employed, which tax extension service do I choose?
If you are self-employed as a sole proprietor (filing Schedule C of Form 1040), an independent contractor (Form 1099), or a single-member LLC, you only need to use FileLater’s personal extension service to file IRS Form 4868, which will extend both your personal and business tax filing deadlines. If you have another business type, such as an S-Corporation, you will need to extend that business deadline using FileLater’s business tax extension service and filing IRS Form 7004.
My business is a single-member LLC. Do I need to file for a personal or business tax extension?
Single-member LLCs only need to file for a personal tax extension (IRS Tax Form 4868), which will extend both their personal and business tax filing deadline. This is because your type of LLC (limited liability company) is considered a "pass-through entity" for income tax purposes, meaning that your business tax return is included as part of your Form 1040 personal return (on Schedule C).
Can I file a tax extension for a trust or an estate?
Yes. FileLater’s business tax extension product includes IRS extensions for estates, trusts, and other entity types. You will file the same extension form (IRS Tax Form 7004) as other businesses, but should indicate that your tax extension is for a trust, estate, or other entity. The FileLater system allows you to select your specific type of business entity as part of the online application process.
How do I determine if I owe a tax payment when I file my business income tax extension?
If you keep financial books for your company, you should be able to estimate your total taxes based on your taxable income multiplied by your current tax rate. Many of our customers simply use their tax rate from last year. Don’t forget to subtract any estimated tax payments that you made during the year from your taxes due.
Do I need to file a business income tax extension for my state, too?
State regulations on tax extensions vary from state to state. Please visit our State Tax Extensions center for detailed instructions on each state.
My business is a sole proprietorship. Should I file a personal or business tax extension?
Sole proprietors generally report their business activities on their personal tax return (Schedule C of Form 1040). Therefore, you should only submit a personal tax extension (Form 4868), which will extend the filing deadline for your business as well as your personal income tax return.