Form 7004: Extension of time to file Business Tax Returns

IRS Form 7004, officially known as the “Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns,” is a request for an automatic extension of time to file certain business tax returns. The deadline to file a Business Tax Extension is March 15th. The extension will be granted by the IRS if the business:

  1. Complete IRS Form 7004 properly
  2. Make a proper estimate of the tax (if applicable)
  3. File the form by the due date of the return to which the Form 7004 applies,
  4. Pay any tax that is due.

An IRS Form 7004 can be submitted to automatically extend the filing deadline for 32 different IRS returns. The IRS typically grants automatic extensions of five (5) or six (6) months, depending on the return for which the extension is filed. The eligible returns and length of automatic extensions are listed below:
Automatic 5-Month Extension:

  • Form 1065
  • Form 8804
  • Form 1041 (estate)
  • Form 1041 (trust)

Automatic 6-Month Extension:

  • Form 1041-N
  • Form 1041-QFT
  • Form 1042
  • Form 1065-B
  • Form 1066
  • Form 1120
  • Form 1120-C
  • Form 1120-F
  • Form 1120-FSC
  • Form 1120-H
  • Form 1120-L
  • Form 1120-ND
  • Form 1120-PC
  • Form 1120-POL
  • Form 1120-REIT
  • Form 1120-RIC
  • Form 1120S
  • Form 1120-SF
  • Form 3520-A
  • Form 706-GS (D)
  • Form 706-GS (T)
  • Form 8612
  • Form 8613
  • Form 8725
  • Form 8831
  • Form 8876
  • Form 8924
  • Form 8928

 

Note: IRS Form 7004 does not extend the time for payment of tax. Generally, payment of any balance due according to IRS Form 7004 is required by the due date of the return for which this extension is filed.

Before we let you go, it would not be fare if we do not tell you how and where to file for the above mentioned Extension. Log on to www.extensiontax.com , you will be able to e-file your Extension within minutes. For any more questions call 1-866-245-3918 or write to support@extensiontax.com .