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 ?
We ran an extension cord to our other neighbor for a fan and light, so they don't mind the noise as much either.
Extension cords can be a handy temporary way to place electrical appliances wherever they are needed; however, they can be extremely dangerous if misused.
No more than three strings of standard indoor lights should be connected to any extension cord.
Consumer Product Safety Commission (CPSC) estimates that some 3,000 people are treated each year for injuries associated with extension cords.
Don't overload electric outlets with lights or decorations or run extension cords under rugs, carpets or furniture where they can overheat.
As he watched white, beige, green and brown cords being made, he wondered why extension cords didn't come in other colors.
Watch the Electrical Cords - It's important to only use extension cords on a temporary basis, instead of for a long period of time when it could begin to corrode and cause danger.
These explosion proof extension cords are ideal for workers performing plant turnarounds and tank maintenance or servicing and can be applied to a wide range of applications requiring HAZLOC compliant devices and accessories.
Avoid using multiple extension cords plugged together in one outlet.
And, with garage and storage spaces at a premium, consumers are looking for ways to ensure hoses and extension cords are safely, neatly stored and ready at a moment's notice.
Keep electric cords and extension cords out of the reach of children.