5 Myths About Extensions for Business Income Tax Returns

5 Myths About Extensions for Business Income Tax Returns


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Businesses must file annual federal income tax returns by a set due date. For partnerships and S corporations on a calendar year, the deadline is March 15 (e.g., March 15, 2021, for the 2020 return); for calendar-year C corporations and sole proprietors, the deadline is April 15 (e.g., April 15, 2021, for the 2020 return). Businesses that can’t meet the deadline may obtain a filing extension. There’s much confusion about the rules impacting filing extensions.


Tax Extension Myths


Here are 5 myths…and the realities of filing extensions.


Myth: You need a good reason for requesting a filing extension. …


Business Ethics


By: contactedorg
Title: 5 Myths About Extensions for Business Income Tax Returns
Sourced From: contacted.org/5-myths-about-extensions-for-business-income-tax-returns/
Published Date: Wed, 24 Feb 2021 20:30:35 +0000

https://contacted.org/5-myths-about-extensions-for-business-income-tax-returns/