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 ?
This will allow Firefox to run with all extensions disabled, and you can then remove the extension as you normally would.
Property sheet extensions for Drives, 'My Computer' dialog, 'Display Properties' dialog, 'Device Properties' dialog, 'Mouse Properties' dialog, 'Keyboard Properties' dialog, 'Internet Options' dialog and others.
As always, the extension does not extend the time for payment of tax.
Passthrough entities: As noted above, the six-month automatic extension to file applies to returns of passthrough entities (e.
Cherry Trees Nursing Home, 242 Dunchurch Road, Rugby - rear extensions to form additional bedrooms and office/storage space.
However, if the return is not filed within six months of the original due date, no valid extension exists and the penalty amount will be computed by reference to the return's original due date.
Filers entitled to the extension relief described above should check Part 1, Box D, on the Form 5500, or Part 1, Box B, on the Form 5500-EZ, and attach a statement labeled "SEPTEMBER 11, 2001 TERRORIST ATTACK" that explains the basis for the extension being claimed.
Located to the north of the museum in the area formerly occupied by a car park, the 58 000 sq ft extension is a simple rectangular pavilion clad with the same marble as the original building and linked to it by a glazed slot.
The Lash Lounge(TM) is dedicated to providing the finest, safest eyelash extensions using only licensed professionals in the beauty or medical industry.
Is not applying for an extension to file an individual income tax return (Form 1040) or
If the taxpayer's return is due prior to 180 days after the property transfer in question, he or she must apply for a filing extension in order to have the entire 180 days to obtain the replacement property.