Form 7004 is the form used to file for an automatic extension of time to file your
business tax return for a partnership, a multiple member LLC filing as a partnership,
a corporation, or s-corporation. If you are not ready with your business income
tax return documents, and looking forward for an extra time to get them place, form
7004 can save you from heavy penalties and interest.
Depending upon the business you own, you can request an extension of time to file
your business income tax. However, before filing an extension you need to calculate
your dues (if you have any) and e-file the same while filing an extension. Otherwise,
IRS would not validate your extension.
Generally, Form 7004 must be filed on or before the due date of the applicable tax
return. The due dates of the returns can be found
here for the applicable return.
File a separate Form 7004 for each return for which you are requesting an extension
of time to file. This extension will apply only to the specific return identified
by its line number.
Example: A taxpayer who needs to file Forms 7004 for multiple form
types may submit the Forms 7004 electronically. For example, taxpayers submitting
one Form 7004 with "Type of Return Code" 31 for the Form 8804 and another Form 7004
with "Type of Return Code" 09 for the Form 1065 may file the Forms electronically.
But the taxpayer may submit only one Form 7004 for each form type. So if the taxpayer
files two Forms 7004 for “Type of Return Code” 09, the second Form 7004 will reject
as a duplicate.
The IRS will no longer send a notification that your extension has been approved.
However we will notify you when we have an acknowledgement received back from IRS.
Properly filing Form 7004 will automatically give you the maximum extension allowed
from the due date of your return to file the return.
The IRS may terminate the automatic extension at any time by mailing a notice of
termination to the entity or person that requested the extension. The notice will
be mailed at least 10 days before the termination date given in the notice.
Form 7004 does not extend the time to pay any tax due.
Generally, a penalty is charged if a return is filed after the due date (including
extensions) unless you can show reasonable cause for not filing on time. Generally,
a penalty of ½ of 1% of any tax not paid by the due date is charged for each month
or part of a month that the tax remains unpaid. The penalty cannot exceed 25% of
the amount due. The penalty will not be charged if you can show reasonable cause
for not paying on time. Interest is charged on any tax not paid by the regular due
date of the return from the due date until the tax is paid. It will be charged even
if you have been granted an extension or have shown reasonable cause for not paying
* Forms Highlighted with Red can only be Paper Filed.
When we have limited resources to answer questions we would directing you to IRS
for instant help in your tax matters.
Corporate taxpayers (Forms 1120, 1120S, 1120-F) may contact the e-help Desk at 1-866-255-0654.
Partnerships (Forms 1065, 1065-B) can contact the e-help Desk at 1-866-255-0654.
Taxpayers with account or tax law questions may call 1-800-829-4933.
Other than that for any help about the website ExtensionTax.com please reach us