CPA Tax Musings: You Can Extend the Time to File Your Corporate Taxes!

If  you have not been able to get together your books to get your corporate tax returns filed (they are due March 17, St Patrick’s Day), you can extend the due date to September 15 by filing an extension, form 7004. Either talk to your tax preparer, or you can download yourself from the IRS website:

http://apps.irs.gov/app/picklist/list/formsPublications.html;jsessionid=8glKa26S40cYZ1qOweJX8w__?value=7004&criteria=formNumber&submitSearch=Find

Remember if you file late without an extension, there will be penalties on taxes dues on a C Corporation and a $195 per shareholder per month on an S Corporation (for some reason the IRS doesn’t like late filings), so either file or extend; you have until Monday (and you can get some green beer then to celebrate!)

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