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Finance

Tax Time: Should You File a Business Extension?

Opinions expressed by Entrepreneur contributors are their own.

C-Corporations and S-Corporations must file by March 15 each year, or they can file and receive an automatic 6-month extension. This year, because the 15th falls on a Saturday, the deadline is March 17. Many don’t realize that filing an Extension can reduce your chances of an audit and give you more time to prepare an accurate tax return. To extend, simply file IRS Form 7004 and review the instructions on the proper address to mail your Extension. Check out this video for a quick summary. For more information visit www.markjkohler.com.

Related: S-Corps and Tax Advantages: What to Know