If your business is doing well in this economy, you cannot afford to let your focus stray from your income producing activities. This logic can be applied to distractions of many kinds. If you put forth a considerable amount of time and effort into preparing your tax returns for your business during this time of year, you can easily put that off for up to 6 months by filing an IRS Form 7004 for a Business Tax Extension.

Business Tax Extensions must be filed by March 15, and once they are processed by the IRS, you will be granted an automatic 5 or 6 month tax extension depending on the business type. The Form 7004, otherwise known as a Business Tax Extension can be used by Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts and Estates. Certain Partnerships, Trusts, and Estates are only able to apply for a 5 month tax extension; this is determined by which tax form they would be filing for their return. Business Extensions are due by March 15.

Filing this form does not mean that taxes do not need to be paid for 5-6 months. Taxes will still be due on the traditional deadline, but the tax return does not need to be organized and submitted until the later deadline. This allows for more time to organize all the necessary paperwork and it also gives you and your accountant more time to make sure that you get the most out of your credits or refunds.  

The best way to process this form is throughwww.ExpressExtension.com.  Express Extension is an IRS Authorized e-file provider. The process of filing a Tax Extension through this program is incredibly simple and easy to understand.  Instead of using confusing tax jargon, Express Extension takes the IRS Form 7004 and breaks it down into a series of simple questions. All you need to file this return online is basic information about your business, as well as your Tax-ID / EIN (Employee Identification Number).

Express Extension can also be used to e-file Personal Tax Extensions with Form 4868, and Non-Profit Tax Extensions with Form 8868. Express Extension lives up to its name in terms of speed; once a return is submitted, it is typically accepted within minutes of filing.  If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US based Customer Support Center in Rock Hill, SC  or send an email to support@ExpressExtension.com. The live support hours are from 8am - 6pm EST.