It happens. You thought you could file your annual income tax return by the deadline (March 15 for corporations and s-corporations, April 15 for partnerships, LLCs and sole proprietorships), but other matters got in the way. So you submitted IRS Form 7004 or 4868 to request an extension.
What comes next? Although you gained some time to process your return, it doesn’t mean you can put your tax-filing responsibilities on hold. Here are the top three factors that come into play: