How to file tax return extensions
– Due dates for filing tax extensions for Forms 1040 and 1120 are April 15th.
– An extension of time to file a return does not grant an extension of time to pay owed taxes.
– Automatic extensions are granted in certain situations, such as natural disasters or for U.S. citizens living outside of the country.
– Clients can request up to an additional six months to file their U.S. individual income tax return.
– Preparers must use Form 7004 to request a six-month extension of time to file certain business income tax returns, including Form 1120 clients.
– There are specific periods for correcting and resubmitting rejected tax returns or extensions.