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EXTENSION OF TIME FOR FILING

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time period for filing a tax return that is extended beyond the due date. The typical extension granted to companies is six months while for individuals it is four months. Partnerships, estates, and trusts usually get 60-day extensions.In no case can the extension be more than six months unless the taxpayer is overseas. The taxpayer must file an application requesting the extension by the due date of the return. Reasons for being unable to file on time must be given. Interest will be charged for deficient estimated tax payments.