Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns
Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns, may be used by most businesses that need additional time to file certain business tax forms. Although it allows extra time to file a return, it does not provide additional time to pay any taxes due.
Who Should Use Form 7004
Most businesses can use Form 7004 to request a filing extension. This includes corporations, partnerships, and multiple-member LLCs filing as partnerships. In addition to Form 1065, U.S. Return of Partnership Income, the following forms are eligible for use on IRS Form 7004:
- 706-GS (D) or 706-GS (T)
- 1041, 1041-N, or 1041-QFT
- 1042
- 1066
- 1120 (C, F, FSC, H, L, ND, PC, POL, REIT, RIC, S, SF)
- 3520-A
- 8612
- 8613
- 8725
- 8804
- 8831
- 8876
- 8924
- 8928
If you need an extension for IRS Form 1041-A, do not use Form 7004. Instead, file Form 8868. It is also important to note that a penalty may be charged if a return is filed after the due date (including extensions) unless there is reasonable cause for not filing on time.
How to Complete Form 7004
You must complete a separate Form 7004 for each return you are requesting an extension of time to file. If completed correctly and submitted before the original filing deadline, you will be automatically granted the maximum extension allowed, which is generally six (6) months.
IRS Form 7004 is a single page with two (2) parts. At the top of the form, enter your name as it appeared on your previous year’s return. Also include your EIN or SSN, and your address.
- Part I – Simply locate the return you need the extension for from the list provided and write in the corresponding form code on line 1.
- Part II – All filers must complete this section. If lines 2, 3, or 4 are applicable, check the appropriate box. For line 5a, enter the tax year for which you are requesting the extension. If your tax year is less than 12 months, check the appropriate box on line 5b. For line 6, enter your estimated tax due for the tax year. On line 7, enter any payments you’ve made and/or credits received for the tax year. Subtract line 7 from line 6 and put the total on line 8.
No signature is required for this form.
Where to File IRS Form 7004
You can file IRS Form 7004 electronically for most returns, except Forms 8612, 8613, 8725, 8831, 8876, or 706-GS(D). If submitting by mail, refer to the instruction booklet for the address that corresponds with your return.
When filing IRS Form 7004, be sure to make a payment for the taxes due (line 8). You must remit this amount on or before the original due date of the return. Payment can be made through the Electronic Federal Tax Payment System (EFTPS) for those requesting an extension by postal mail, or by Electric Fund Withdrawal (EFW) if filing electronically. Failure to pay your taxes in full before the original filing deadline will result in penalties and interest charges.
Need Help?
If you need assistance with requesting a filing extension for your business or completing Form 7004, contact Tax Defense Network at 855-476-6920. We offer free tax consultations and offer a wide array of business tax services.
