Tax Extension

Deferring Due Date To File

There is no comparable help irs can provide to defer deadline for paying the tax. Approved extensions are for filing purposes only, not tax loopholes to avoid pay-as-you-go penalty violations.

Income tax forms 4868 for individuals and 7004 for business entities are the proper forms to submit a request. A properly prepared and timely submitted request will waive assessment of late file penalty. Waiver is effective for the duration of time reflected on approved extensions.

Postal mail can be mis-directed or lost which can disrupt a timely and proper delivery of an extension request. To ensure extensions are received timely, and approved, a mail tracking record is recommended. When a request for extension becomes lost in the mail, a tracking record can establish reasonable cause and become as meaningful as the request itself.

Under reasonable cause factual circumstances, extensions are available to defer the due date for filing income tax returns, individuals and business. Pose a tax question about deferring a due date to file.

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