#2016 extension form for georgia taxes how to
How to file for a tax extension (steps to take)įollow these steps to file a tax extension:
Because the deadline to file taxes is April 15, this means you may have until October 15 to file your tax return. This can ensure that each employee gets the correct amount of return for their taxes.Įntitled "Application for Extension of Time To File an Exempt Organization Return," Form 8868 provides businesses that are exempt from federal income tax to get an automatic three-month extension to file their tax return.Īccording to the IRS, the length of tax extensions can vary depending on the forms you use, but the typical length is six months. The IRS provides the following forms to business owners who want to get an extension on their tax return:Įntitled "Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns," Form 7004 allows businesses to automatically request a six-month extension for their income tax return.Įntitled "Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback," Form 1138 allows companies to potentially gain a tax return from the previous year, in order to balance out a loss of profit in the current year.Įntitled "Application for Extension of Time To File Certain Employee Plan Returns," Form 5588 helps companies gain more time to work on employee tax returns. You may need to complete additional forms to file for a tax extension.
IRS forms you might need depending on your circumstances According to the IRS, it’s important to note that tax extensions do not apply to tax payment. Businesses typically file for tax returns before April 15, so an extension allows more time to organize financial records and complete paperwork.
What is a tax extension and why you might need itĪ tax extension is a document that allows individuals and businesses to put off filing for a tax return for a certain period of time.