Tag Archives: Tax Liability

Form 7004- The Application To File Business Tax Extension

Yes, it is indeed a long time since we had our last update here at ExtensionTax.com. It is easy to get overwhelmed when it comes to anything tax-related, and getting federal business tax extension is no exception. ExtensionTax.com wants you help you in understanding the business extension process. We have jotted few of the questions:

Who Can Use IRS Form 7004?

Form 7004 is a request application that serves you with 5-month tax extension by partnerships, most estates and trusts, and most multi-member LLCs. Most other types of business entities (including C corporations, S corporations, foreign corporations, REMICs, and REITs) can use Form 7004 to request a 6-month tax extension.

What Is The Due Date For Filing A Business Tax Extension?

You must file a business tax extension by filing form 7004 by the original due date of the tax return. For corporations, this deadline is the 15th day of the 3rd month after the close of the tax year (March 15 for calendar year filers). For partnerships, as well as most estates, trusts, and multi-member LLCs, this deadline is the 15th day of the 4th month following the end of the tax year (April 15 for calendar year filers). Continue reading