How To File A Tax Extension For Business

Form 7004: Automatic Extension for Filing Business Income Tax Returns

Introduction

The Internal Revenue Service (IRS) allows businesses to file for an automatic extension of time to file certain income tax returns using Form 7004.

Eligibility

Individual tax filers, regardless of their income level, have the option to electronically request an automatic tax-filing extension using the IRS Free File tool.

Form 7004 can be used to file for an extension for the following tax returns:

• Form 1120, U.S. Corporation Income Tax Return
• Form 1120-S, U.S. Income Tax Return for an S Corporation
• Form 1065, U.S. Return of Partnership Income
• Form 1041, U.S. Income Tax Return for Estates and Trusts

E-Filing Instructions

Form 7004 can be filed electronically through the IRS's Modernized e-File (MeF) system.

To e-file Form 7004, businesses must use an IRS-approved software provider. The software will generate the necessary electronic files and transmit them to the IRS on the business's behalf.

The deadline for e-filing Form 7004 is the same as the original filing deadline for the tax return being extended.

Restrictions

There are some restrictions that apply to the use of Form 7004:

• The extension granted by Form 7004 is for six months.
• Businesses can only use Form 7004 to request one extension.
• Businesses that owe taxes may still be required to make estimated tax payments during the extension period.

Additional Information

For more information about Form 7004 and the automatic extension process, businesses can visit the IRS website or contact their local IRS office.