I have a 8-5 job and a sole proprietorship business. I'll be reporting the proceeds from the business as personal income. I need to file for extension. Are there separate extension forms or do I use Form 4868?
2007-04-16 19:07:22 · 2 answers · asked by worried 1 in Business & Finance ➔ Taxes ➔ United States
For your biz extension, use Form 7004, "Application for Automatic 6-Month Extension of Time to File Certain Business Income Tax, Information, and Other Returns.
2007-04-16 19:14:35 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Since you're only filing a single return -- the SP goes on Schedule C of your Form 1040 -- you only need to file Form 4868. Keep in mind that that is only an extenstion of time to file the return, not pay the tax. You must pay any tax due with the extension to avoid interest and possible penalties for late payment of tax.
2007-04-17 03:56:49 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋