March 15th is Almost Here – Don’t Panic! File a Business Tax Extension
The March 15th deadline for S Corporations (Form 1120-S) and Partnerships (Form 1065) is fast approaching! If you’re scrambling to get your business tax return done, don’t stress—you can file an extension and buy yourself more time.
Why File an Extension?
Filing an extension doesn’t mean you’re behind—it means you’re being smart. An extension gives you until September 15, 2025, to finalize your return, helping you:
· Avoid rushing and making costly mistakes
· Ensure accurate deductions and credits
· Reduce the risk of IRS penalties for late filing
How to File a Business Tax Extension
Filing an extension is simple and takes just a few minutes: Use IRS Form 7004 – This is the Application for Automatic Extension of Time to File.
Pay any taxes due – An extension gives you more time to file, not more time to pay. Estimate what you owe and submit a payment if needed to avoid interest and penalties.
Don’t Wait Until the Last Minute! Even if you plan to file an extension, don’t put it off. Set aside 10 minutes today to take care of it and breathe easier.
Need help filing your extension? You CAN do it yourself (see above) However if you’d rather have your tax preparer do it, give them plenty of time and let them know you need an extension, today!
