![]() It’s always best to slightly overestimate the amount of taxes you need to pay. You’ll also have to deduct any payments or credits. When you file for a business tax extension, you’re required to estimate the taxes you owe for the 2019 tax year and submit this payment, along with your extension application, to the IRS. No, an extension won’t get you out of paying your business taxes. Step 2: Estimate your 2019 taxes owed Related What Every Business Owner Should Do Before Going on Vacation Hiring and Growth Not sure what type of business you have? Then check here. ![]() Sole proprietorship, or if you need to file an extension on your personal income tax: IRS Form 4868.Partnership, LLC filing as a partnership, corporation (“C Corp”), or S corporation (“S Corp”): IRS Form 7004.Here are the forms you’ll need to file, depending on your business type. Still have questions about business tax extensions?.Special Note: Automatic 2-month extension.Step 6: Review the instructions for filing.Step 5: Take note of when your tax return is due.Step 4: File your extension application and payment.Step 3: Find your tax extension due date.
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