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 ?
That algorithm can be described as follows: the EMD process is carried out on a triangular wave first of all, and then part of the inner data of the originally got first-order IMF is looked on as the periodic extension base to reconstruct the triangular wave.
The Aa3 rating also incorporates the presence of a designated debt service extension base (DSEB) levy that is unlimited as to rate though limited as to total amount.
The Aa2 rating on the district's GOLT debt service extension base (DSEB) debt reflects the credit characteristics inherent in the issuer rating, the presence of a dedicated DSEB property tax levy unlimited as to rate, though limited as to amount, and adequate debt service coverage protected by the DSEB levy.
This ballot issue asks to establish a "debt service extension base" of $500,000 for "all subsequent levy years" including 2018.