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 ?
Utilization of the program extension "Diagram map creator" reduces manual work during map creation.
Industry reps sounding off about a possible two-year National Flood Insurance Program extension, as proposed by the Federal Emergency Management Agency, instead of a five-year extension with program reforms:
The amount of the cuts will consider the approximately $480 million budgeted from the stimulus program extension as well as recent revenue collections and any new information that the governor considers relevant to future revenue forecasts.
For more than 300 years, Detroit and its river have been a destination for people of every nationality searching for freedom and opportunity," said Gillian Eaton, vice president of YArts, a program extension of the YMCA of Metropolitan Detroit at the Boll Family YMCA.
The Board's authorization of the repurchase program extension follows the previous repurchase program which commenced on December 1, 2008 and runs until November 30, 2009.
This 11 month program extension, valued at more than $212 million, raises the ceiling value of the contract to more than $1.
Their work under the program extension will continue to focus on advances in these areas, while at the same time supporting their cutting-edge organic electronics research.
This program extension should mean an increase in demand for electronic ear tags and scanning systems in the months to come as the industry adapts to this evolving technology.
The 15-month program extension will focus on the continued development and delivery of a wrist-mounted communications device prototype that contains a flexible, active-matrix OLED (AMOLED) display built on metallic foil.
Program Extension Is Designed to Moderate the Sensitivity of the Company's Earnings to Changes in Retail Fuel Prices, Price Range on New Purchase Between $2.
Three Year Program Extension on Workstream Rewards Solution to Manage Employee Performance Recognition

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