Tax deadlines are nothing to fool with!  The IRS takes these deadlines very seriously and will aggressively pursue collection methods if you are late.  The collection methods include hefty penalties, fines and interest.  Your original tax bill could double or even triple in a very short time span.  You can avoid these penalties by simply filing for a business tax extension.

Regardless of the reason, if you are not going to be able to file your taxes on time you must take action before the deadline.  The IRS really doesn’t care if your accountant didn’t bring you the right paperwork or if your paperwork accidentally got destroyed by spilled coffee.  All they care about is that you file on time and pay any taxes owed in full by the due date.

Take time well in advance to determine if you will be able to file your taxes by the deadline.  If you foresee any kind of issue or problem that may cause delays you need to request an extension immediately!  Business and Corporate Tax extension requests are only honored if they are filed well before the original deadline.

You can find all of the forms you will need to request a business tax extension on the Internal Revenue Service’s website.  Some of the forms you may need are Form 8809 for business, form 8736 for partnerships or form 7004 that requests an extension for certain business income tax documentation.  Each form comes with extensive instructions on how to fill them out properly. There are many other forms available on the IRS site as well.

You should contact your accountant in order to be sure you are using the correct forms for your business tax extension request or corporate tax extension request.  This is not something you want to guess at because filing the wrong request or failing to provide all of the required documentation with your request could result in your extension being denied.

Remember you must have your business tax extension request to the IRS prior to the actual tax filing deadline.  If you do not make your request early enough you may be denied and then you will incur extremely high penalties and interest charges.

The IRS will assess penalties just for filing your business taxes late.  These penalties can and often do become more expensive than your entire tax debt ever started out to be.  Don’t procrastinate! Plan ahead and if you aren’t going to make the deadline request a business tax extension long before the deadline!