How does a Single-member LLC file extension on their taxes?
1.4k views | Last modified 6/23/2020 1:36:02 AM EST | Added by ExpressExtension Team

Single-member LLCs are considered as a disregarded entity by the IRS and they are taxed as a sole proprietorship for federal tax purposes. They can elect to be taxed as either C corporation or S Corporation or continue to remain as a disregarded entity.

Here is how a Single-member LLC files an extension:

• Log in to ExpressExtension.
• Click Create Business Tax Extension (Form 7004) on the dashboard.
• Enter the business details and click Next
• Select the Business Entity Type as Limited Liability Company (LLC)
• If your LLC is elected to be taxed as Corporation, select Multi-Member/Single Member LLC as a Corporation. Otherwise, you need to file Form 4868. 
• Select the form to extend (For C Corporation, choose Form 1120 and for S Corporation, choose Form 1120S) and click Next.
• Enter the Tax Year and the Tentative Tax and complete the form.

Once filling all the details, review the form, make a payment, and transmit the extension.