How to File an Extension for Single Member LLC Taxes?
Hey tax folks, I'm in a bit of a time crunch with my taxes this year and need to file an extension. I run a single member LLC which is my only source of income. From what I've read, I think I can make an estimated payment to the IRS and label it as for an extension, but I'm not 100% sure on the process. Do I file Form 4868 like regular individuals, or is there a different form since I have an LLC? Also, I heard you still need to pay what you think you'll owe by the original deadline even with the extension - is that true? This is my second year with the LLC and last year I had an accountant handle everything, but trying to save some money by doing it myself this time. Any advice from those who have done extensions with a single member LLC would be super helpful! Thanks in advance.
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Oliver Alexander
Since your single member LLC is treated as a disregarded entity for tax purposes, you'll file Form 4868 just like any individual taxpayer to get your automatic 6-month extension. The extension gives you extra time to file the paperwork, but not extra time to pay what you owe. You're correct that you should make an estimated payment of what you think you'll owe by the original tax deadline (April 15th). If you don't pay enough, you might face penalties and interest on the unpaid amount. The safest approach is to estimate on the high side - you'll get any overpayment back as a refund when you file. When making your payment, you can use the IRS Direct Pay system and select "extension" as the reason for payment, or use one of the other electronic payment options available on the IRS website. Make sure to keep confirmation of your payment!
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Lara Woods
•Thanks for the info! Quick question - does the extension also extend the deadline for contributing to retirement accounts like an SEP IRA for my LLC income? Also, if I miscalculate and end up owing more when I actually file, how bad are the penalties?
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Oliver Alexander
•For SEP IRA contributions, the extension does give you until the extended due date (typically October 15th) to make contributions for the previous tax year, which is a nice benefit of filing an extension. If you underestimate what you owe, the IRS typically charges a failure-to-pay penalty of 0.5% per month on the unpaid tax amount, plus interest (currently around 7-8%). The penalty maxes out at 25% of the unpaid amount. To minimize this, try to pay at least 90% of your actual tax liability by the original deadline - this can help reduce or eliminate penalties, though interest will still apply to any unpaid balance.
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Adrian Hughes
I was in exactly the same boat as you last year with my single member LLC! After hours of frustration trying to figure out all the forms and requirements, I discovered taxr.ai (https://taxr.ai) and it was a total game-changer for handling my extension. The tool analyzed my previous year's return and my current year's income documents, then walked me through exactly what forms I needed for my LLC extension and calculated a safe estimated payment amount. It even explained the pass-through taxation concept that applies to single-member LLCs, which helped me understand why I file Form 4868 instead of a business extension form. What I really appreciated was how it flagged potential deductions I was missing that are specific to my industry, which helped lower my estimated payment amount significantly.
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Molly Chambers
•How accurate was the estimated payment calculation from taxr.ai? I'm always worried about underpaying and getting hit with penalties, but I also don't want to overpay by thousands and wait for a refund.
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Ian Armstrong
•Does it work for more complicated situations? I have a single member LLC too but also have rental properties and some investment income. Most tax tools I've tried get confused with multiple income streams.
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Adrian Hughes
•The estimated payment calculation was surprisingly accurate. When I finally filed my return, I was only off by about $120 (I had slightly overpaid). The system factors in your quarterly estimated payments already made, plus it has a built-in buffer option where you can tell it to be more conservative if you're worried about penalties. It absolutely handles multiple income streams. I actually added a rental property last year and the system properly accounted for both business income and rental income. It even flagged some depreciation opportunities I would have missed. It analyzes all your income sources and gives recommendations based on your complete tax situation, not just the LLC portion.
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Molly Chambers
Just wanted to update after trying taxr.ai that was mentioned earlier. I was initially just looking for extension help for my single member LLC, but ended up getting so much more value. The system found several business deductions I had no idea about - home office deductions I was calculating wrong and some travel expenses I didn't know qualified. For the extension specifically, it walked me through exactly how much to pay (based on my current year's income so far), generated the proper forms, and explained how my LLC income flows through to my personal return. It even set up reminders for my estimated tax payments for the rest of the year. Much easier than the nightmare I went through last year trying to figure out extensions on my own!
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Eli Butler
If you're struggling to get answers about your single member LLC extension from the IRS directly, I highly recommend using Claimyr (https://claimyr.com). I wasted days trying to get through to an IRS agent about a similar extension question last year - kept getting disconnected or waiting for hours. With Claimyr, I got connected to an actual IRS agent in about 15 minutes who confirmed exactly what I needed to do for my LLC extension. They have this clever system that navigates the IRS phone tree and waits on hold for you, then calls you when an agent picks up. You can see how it works here: https://youtu.be/_kiP6q8DX5c The IRS agent I spoke with gave me specific guidance on how to properly document my extension payment for my single member LLC and confirmed that yes, I needed to file Form 4868 since my LLC is a disregarded entity.
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Marcus Patterson
•How does that even work? IRS hold times are insane. The last time I called I waited over 2 hours and then got disconnected. Sounds too good to be true.
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Lydia Bailey
•I'm skeptical. I've heard the IRS isn't even answering most calls this year. And wouldn't they just tell you the same generic information that's on their website? What's stopping me from just Googling "how to file extension for single member LLC"?
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Eli Butler
•It works by using their system to navigate the complex IRS phone tree and wait on hold for you. They basically have technology that stays on the line and then calls you when a human agent answers. It's like having someone else wait in line for you. The value isn't just getting generic information - it's getting confirmation directly from an IRS agent about your specific situation. In my case, I had questions about how to properly allocate my estimated payment between my LLC business income and some cryptocurrency gains. The agent gave me specific guidance that wasn't clearly addressed on the IRS website. They even helped me understand how to document things properly in case of an audit later.
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Lydia Bailey
Wow, I feel like I need to eat my words about Claimyr. After posting my skeptical comment, I decided to try it for myself since I had some specific questions about my LLC extension that weren't clearly answered online. I got connected to an IRS agent in about 20 minutes (would have been hours if I called directly). The agent confirmed exactly how to handle my extension payment for my single member LLC and explained how to properly document business expenses I'm still gathering receipts for. They even gave me tips on avoiding audit triggers when filing later. The peace of mind from getting official answers directly from the IRS was absolutely worth it. No more guessing about Form 4868 and estimated payments for my LLC!
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Mateo Warren
Just a heads up from someone who's done this a few times - make sure you're also considering your state tax extension requirements! Many states automatically extend when you get a federal extension, but some require a separate form and payment. For example, I have a single member LLC in California, and I need to file Form FTB 3519 for my state extension in addition to the federal Form 4868. And like the federal extension, CA requires payment of estimated tax by the original due date. Check your state's department of revenue website for specific requirements since they vary a lot.
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Sofia Price
•Do you know if Texas requires a separate form? I've got an LLC there but can't figure out if I need to do anything special for the state since they don't have personal income tax, but do have that franchise tax thing.
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Mateo Warren
•Texas is a bit different since they don't have personal income tax. For a single member LLC in Texas, you're right about the franchise tax. If your LLC's revenue is over the threshold (currently $1,230,000), you need to file a franchise tax report by the due date or request an extension. For the extension in Texas, you'd file Form 05-164 and make any required payment. Even if you're below the no-tax-due threshold, you may still need to file a "No Tax Due Report" by the deadline or request an extension. The Texas Comptroller's website has detailed information specific to your situation.
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Alice Coleman
Have any of you used TurboSelf for filing extensions for single member LLCs? Their ads keep popping up on my feed claiming they specialize in self-employed taxes, but I'm not sure if it's worth the money compared to other options.
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Owen Jenkins
•I tried TurboSelf last year for my LLC extension and it was okay but not great. It handled the basic Form 4868 fine, but wasn't very helpful with calculating a good estimated payment amount. I ended up overpaying by almost $2,000 because it used a very conservative calculation method. Their support was also really slow to respond when I had questions about how to properly categorize some business expenses that would affect my payment amount. I think there are better options out there specifically for small business owners.
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