How to file your own Extension

published March, 2010

The day is getting close to file an extension. Corporations and LLC’s taxed as Corporations are DUE MONDAY MARCH 15th.

People are due Thursday April 15th.

If you don’t file an extension, you may receive a Penalty for Late Filing. For corporations, partnerships and LLCs (which are also partnerships), the extension form is 7004 and here’s the link: You’ll need to decide which entity you are based on the return you file ­ S Corporations file an 1120S, and C Corporations file an 1120. Each has a different code to enter on the extension. You’ll also need to decide if tax is owed tentatively, and make a payment.

It is possible your extension may be invalidated if you don’t make a proper payment. The payment is made either through the on-line EFTPS system, or via Form 8109 coupon, the payment does not go with the extension form.

In California, generally the federal extension suffices—you don’t need to file a state extension, although if you owe California money, you pay WITH the extension. The California extension form is a payment voucher numbered 3539 and here’s the link:

Some states DO require a separate extension from the federal extension, in addition to the federal extension, like Washington DC.

If you want me to put you on extension, I’ll need an idea about your income for last year, and I’ll make an estimate of what you’ll owe. I will also send you an invoice for the minimum fee for your return. If you owe a payment, I will send you a payment coupon for the state or give you an amount to pay to the IRS.