HOW TO FILE ATAX EXTENSION

IN 2016

If you're rushing to finish your

tax return, it might be time to

file a tax extension.

An extension will give you more time to file—and

you'll avoid mistakes that might occur from rushing.

Your federal tax extension is

due the same date as your

income tax return.

Instead of sending an income tax return, you

send an extension request.

?

But remember, the extension

only prolongs the time you

have to return tax forms.

You still have to make your tax payment by the

regular deadline. You'll need to estimate your

taxes to figure out how much you owe.

The deadline forpartnerships and

multiple member LLCs.Use Form 7004.

Monday

APRIL 18

The deadline forcorporations. Use

Form 7004.

The deadline to file an extension for soleproprietors and single member LLCs. Use

Form 4868.

EXTENSIONFILING DATES

BY BUSINESS STRUCTURE

In 2016, filing dates areeither by March 18 or April

18, depending on yourbusiness structure.

Friday

MARCH 18

APRIL 18Monday

PARTNERSHIPS OR

MULTIPLE MEMBER LLCs

File your tax extension by Monday, April 18.

Gives 5 extra months to file your income tax return.

Use Form 7004 to file the extension.

Check this IRS chart for instructions on where to send.

CORPORATIONS

The extension deadline for the 2015 tax year has passed.

Corporations needed to file for an extension by March 18.

Corporations should have used Form 7004 to file the extension.

SOLE PROPRIETORS AND

SINGLE MEMBER LLCs

File your extension by Monday, April 18.

Gives 6 extra months to file your income tax return.

File the extension on Form 4868. Report information

about your business and the amount of taxes you owe.

Pay a fixed paymenteach month.

WHAT IF I CAN'T PAY TAXES?

Pay less than the amountdue, and pay fees.

The IRS won't collect, butyou accumulate interest

and penalties.

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Offer inCompromise

Currently NotCollectable

If you can't pay taxes, all is not lost. A tax extension won't change the amount oftaxes you owe. But, the IRS offers several solutions to help you pay your taxes.

THANKS FORREADING!

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