Extension

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Extension

Voluntary arrangements to restructure a firm's debt, under which the payment date is postponed.

Extension

1. In options, the expiration date. Occasionally the parties to an option contract will agree to extend the expiration to a certain date in the future.

2. In taxes, the day that one must file one's return if one asked the tax agency for more time to do it. For example, in the United States the deadline to file tax returns is 15 April. If a taxpayer is unable to make this deadline, he/she may ask the IRS for an extension until 15 October. In this case, 15 October is the extension date.

3. In an offer for bids on a contract, the date to which a deadline is lengthened. If there is either a lack of interest or no good bids on a contract, the company or government offering it may extend the deadline to allow other companies to decide whether to make a bid. This second deadline is the extension date.

extension

An agreement to defer the time for doing an act or for termination of a lease.

Extension

A provision thta allows additional time to perform an act required by the tax law or by regulation. The term is used most often when referring to an extension to file the tax return, but it also applies to extensions for making available elections.
References in periodicals archive ?
Basically, this is an extention of the existing tax incentives that have been signed into law in August, 1997," he explained.
THERE IS SEVEN (7) YEARS LEFT ON THE LEASE AND THERE IS NO PROBLEM FOR AN EXTENTION OF LEASE.
To take part contact Garretts Green Neighbourhood Team on 0845 113 5000 extention 7848 6253.
Tenders are invited for Extention of 11 kv service connection with 11 kv ht aerial bunch cable and allied works at te bldg.
Tenders are invited for Rectification of neutral earth with extention i/c allied electrical works at te jagdishpur under ara ssa.