Business, Legal & Accounting Glossary
Additional time given to taxpayers for filing a tax return. An automatic extension lasts for up to six months, and is granted to an individual taxpayer who completes Form 4868 by April 15th. Corporations and partnerships must complete Form 7004. The extension gives the taxpayer more time to file, but still requires the taxpayer to pay estimated taxes by April 15th.
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This glossary post was last updated: 20th November, 2021 | 0 Views.