Extension

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Extension

Voluntary arrangements to restructure a firm's debt, under which the payment date is postponed.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

extension

An agreement to defer the time for doing an act or for termination of a lease.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
The program extension also serves to creation line diagram maps.
The Comprehensive Agrarian Reform Program (CARP) and its extension, the Comprehensive Agrarian Reform Program Extension with Reforms (Carper) had provisions that were generally favorable to their intended beneficiaries.
The Department of Agrarian Reform (DAR) will distribute 694,181 hectares of land to 408,342 farmer-beneficiaries under the Comprehensive Agrarian Reform Program Extension with Reforms (CARPER) by 2016.
WASHINGTON--The pressure on the Senate to act on a long-term National Flood Insurance Program extension intensified as trade groups across multiple industries kicked off their "Flood the Hill" campaign with a letter sent to Senate leadership.
9700, or the Comprehensive Agrarian Reform Program Extension with Reform (Carper), says nonpayment of amortization for three years would forfeit the awarding of the land.
DAR Secretary Virgilio de los Reyes led the distribution of CLOAs to 394 agrarian reform beneficiaries under the Comprehensive Agrarian Reform Program extension with reform (CARPer).
Matt Gannon, assistant vice president of federal affairs for the National Association of Mutual Insurance Companies, discussing the upcoming "Flood the Hill" effort, which involves 13 trade groups across multiple industries that will push for Senate passage of a National Flood Insurance Program extension starting May 7:
Initiated through the Carper law (Comprehensive Agrarian Reform Program Extension with Reforms), the program is also intended to cater to new ARBs whose respective organizations are not yet eligible under the existing regular lending programs of the Landbank.
Industry leaders comment on topics ranging from a National Flood Insurance Program extension, to the consequences of soft-market pricing, and more.

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