Filing Tax Extensions

There can be good reasons to file an extension for your tax return: anything from a broader tax filing strategy, to waiting on missing forms. For those in The Elements Circle at the Active or Support levels, we’ll automatically take care of filing extensions for you if needed. And if you’re at other levels, you can send us an online Change Request to file for you hassle free. For the DIY’ers, check out the links below to get headed in the right direction. (Updated 6 Feb 2024 for 2023 tax year returns.)

Remember: An extension extends the time to file the form, but not pay the tax. If there’s a tax due, interest will start calculating as of the original filing due date — so you’ll want to send payment with your extension if you’re expecting a tax due (and perhaps a little extra as a safety).

Now for the links –

Tax Extensions for businesses

Federal: Form 7004 is used by C-corporations (Form 1120 filers), S-corporations (Form 1120S filers), and Partnerships (Form 1065 filers). Calendar year Partnerships and S-corporations have an original deadline of March 15, and the form extends the filing date six months to September 15. C-corporations have an original filing date of April 15, and the form extends the filing date six months to October 15. Form 8868 is used by non-profit entities (Form 990 filers). Calendar year non-profits have an original filing deadline of May 15, and the form extends the filing date six months to November 15.

Maryland: Form 500E can be used by C-corporations, and Form 510/511E can be used by Partnerships and S-corporations, for a six-month extension.

DC: Form FR-120 can be used by C-corporations and S-corporations, FR-130 for Unincorporated Entities, and FR-165 Partnerships, for a six-month extension.

Virginia: Automatically grants a six month extension for business returns, but you should send an extension payment if you expect to have greater than 10% of your tax still due when you finally file: C-corporations can use Form 500CP, while S-corporations and Partnerships can use Form 502W.

Tax Extensions for individuals

Federal: Form 4868. An extension is required to be filed, and any payment can be made by check sent with the form, or online via the IRS Payments page. (Be aware there’s no charge for ACH, but debit/credit card payments are processed by a third-party vendor who collects a “convenience fee” in addition to your extension payment.)

Maryland: Form PV. No extension is required to be filed if you’re submitting a federal extension, and you don’t expect to owe tax to Maryland. Otherwise, an extension is required, and any payment can be made by check sent with the form, via the state’s iFile system, or online via ACI Payments. (Similar to the note above, be aware that third-party vendors typically collect an additional processing fee.)

District of Columbia: Form FR-127. An extension is required to be filed, and any payment can be made via check sent with the form, the new MyTaxDC website, or via a third-party processor.