Form 921-P

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Form 921-P

A form a limited liability company or partnership files with the IRS to request an extension of the time necessary to file an income tax return due to the fact that real estate owned by the company or partnership is under contract to be sold but has not been sold yet. As the price of the sale may affect one's tax liability, Form 921-P allows the taxpayer to wait for a certain period of time before filing taxes.