How To: Request More Time to File Your Small Business Taxes
by Christina Lee on April 10th, 2009
If filing your small business taxes by April 15 does not seem feasible this year, do not fight against the IRS. Instead, work with the agency to eliminate any reason for last-minute stress. Over the past two years, about 7 percent of all Form 1040 filers have requested time extensions, accounting for nearly 10 million returns. If you do the same, make sure to: Understand the terms and conditions of the extension. While a typical extension lasts for six months, small business owners must still pay any amount due by April 15. They will otherwise owe a late-payment penalty and... Read more »