IRS Form 7004
Business Tax Extension Form 7004 is the application for businesses to receive more time to file their business tax and other information returns. Simply by correctly filling out the form and transmitting it to the IRS by the extended March 20th deadline, you’ll automatically receive an extension of up to 7 months to file.
Because IRS Form 7004 is automatic you can receive your extension in a matter of minutes. The IRS no longer requires a valid reason for needing an extension or a signature, so you can literally e-file it in little to no time.
It doesn’t matter why you need more time to file. Maybe you’re out of time, maybe you want to plan ahead, maybe you need more time to gather your information. Either way, your extension will automatically be approved.
The penalties for not filing your business tax returns in time are pretty steep. Interest accrues on the amount you owe the IRS on a monthly basis until you file your return and pay your tax bill. IRS 7004 provides businesses with a way to get around these penalties by giving them more time to file.
Important: Business Tax Extension Form 7004 only extends the time to file, not to pay your tax bill. Any payments owed to the IRS must be fully paid by the original tax deadline. In this case, the deadline is March 20, 2017.
The length of the extension you receive depends on your business type and tax year.
- 6-month automatic extensions are given to C-Corporations with tax years ending December 31st.
- Certain estates and trusts receive automatic 5 ½ month extensions.
- 6-month extensions are given for forms in Part I and IV whose tax year doesn't end on December 31 or June 30, as well as other forms.
- C-Corporations with tax years ending on June 30th receive automatic 7-month extensions.
E-Filing With ExpressExtension
ExpressExtension is an IRS authorized e-file provider that’s safe and secure. They’ve taken the time to make the extension process fast and headache free so your extension can be automatically approved.
Getting started is easy. Simply gather the materials that are required for you to file IRS Form 7004, like your business name, address, and EIN/Tax-ID and create your free account. The required information needs to match what the IRS has on file, and you can make sure that it does by contacting the IRS directly.
Then you’ll select the business entity type and which form you’re applying for an extension on. Select the tax year and select the option is your organization is a holding company.
Next, you’ll need to make any payment owed to the IRS. The payment is basically a guess on the amount you’ll owe on your tax bill. Some companies refer to the amount they owed last year, but due to economic turbulence, this may not be an option. Make your estimation as accurate as possible.
Then all of your information will be displayed for you to carefully check and make sure there are no errors. After any corrections have been made simply pay ExpressExtension for the form and transmit it to the IRS to instantly have your extension approved.
If you need any assistance the dedicated support team at ExpressExtension will be standing by to answer your questions. Please don’t hesitate to contact us over the phone Monday-Friday from 9 AM to 6 PM EST at 803.514.5155, via live chat, or via 24/7 email support at email@example.com