Money Talks, So Should You

Filing a tax extension for your business online

Elizabeth Rosen
by Elizabeth Rosen, Contributor (@dimespring)

It happens to the best of business owners. One day, you’re rocking along on your taxes … and suddenly your receipts are missing or your business partners forget important tax write-offs. Now you’re thinking you need to figure out how to file a business tax extension online.

So how do you go about electronically filing (e-filing) a business tax extension request? Fortunately, there is a great and easy-to-use option for anyone who needs to apply for a business tax extension. Even if you’ve never filed online before or requested a tax extension, we are here to help.

READ: Are you a procrastinator? E-file your taxes at 11:59 p.m. April 15

FileLater.com

One effortless way to file for a business tax extension is to use a tax extension service. We recommend FileLater.com which can help you request a business (and personal) tax extension, as well as answer any related questions you may have. Tax extension services like FileLater can file everything you need quickly and securely.

There are two types of tax extension forms: IRS Tax Form 4868 is for personal tax extensions and IRS Tax Form 7004 is for business tax extensions. Do you know which tax extension form you need to file? Is your business a sole proprietorship, a partnership, an S-corporation, or an LLC? The type of business entity you have will determine which tax extension form you should use. Some business owners can file a single tax extension request for both their business and personal tax returns!

Knowing all this, using a service like FileLater can help you figure out exactly how to request a tax extension. This can help prevent any problems that might arise from improper filing or missed deadlines.

INFOGRAPHIC: Dramatic rise in e-filing taxes

Free E-Filing Options

You may have heard that there are free filing options available for your tax extension request. While this is true, you should first consider the risks of using certain websites and services. Additionally, many taxpayers make mistakes each year because they attempt to tackle the process alone without proper guidance. If you are going to try to prepare your taxes yourself, make sure that you can file everything correctly.

Another thing to think remember is that you are getting an extension of time to file your tax return, and not an extension of time to pay your taxes. So while the time you have to file your return has been lengthened, you must still submit payment for any tax due by the original filing deadline.

A service like FileLater can help you with the entire tax extension filing process. They provide helpful articles, tax calculators and options to submit your tax payment when you file your tax extension electronically.

Elizabeth Rosen grew up near Boston and comes from a family of financial planners. She attended Carnegie Mellon University in Pittsburgh, Pa. where she studied professional writing. After graduation, Elizabeth moved to San Francisco where she worked for several years as the senior writer/editor and content manager for an online company. She now lives in Los Angeles working as a financial writer for numerous websites and print newsletters.