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 ?
Stockton fire station watch manager Stuart Simpson said the extension lead was not unravelled when power was put through it.
The cause is thought to be an electrical short circuit in a home made extension lead.
When choosing power tools, look for safety features like "soft start" trigger control, a keyless chuck on drills and sufficient flex on corded tools to allow you to reach every part of the room without the need for an an extension lead.
"Firemen at the scene have told me that it was caused by an extension lead upstairs.
It comes with lots of useful extras, including an extension lead for when you want to detach the head from the base, a so you can use it like a miner''s lamp, and a diffuser, which makes a real difference when using it.
The fire, which broke out in Jordan's bedroom, is believed to have been sparked by an extension lead which an Xbox and TV were plugged into.
Brodie Young, 12, was holding a video camera with a faulty extension lead when 240 volts surged through him.
North Tyneside Council's trading standards officers have carried out tests on a four-socket extension lead marked Senior Move-able Socket, Made in China, following a complaint from a member of the public.
You can have an extension lead to allow freedom to your dog in open spaces but still have control in a difficult position.
Emmy Taylor was three in 2011 when an extension lead started a blaze that killed her uncle and grandad.
They found the cloakroom, underneath the staircase, well alight after a light bulb, which was attached to a temporary extension lead, ignited coats and other clothing.
Tim Parkin, prosecuting said: "This case is about the brutal and sadistic killing of a 56-year-old man in his own home for no reason apparent other than the entertainment of his killers "They had been trying to strangle him with an electrical extension lead, each of them holding one end and pulling it tight.