An Overview of Form 7004

What business owners should know about this extension.

As a business owner, you are probably in the middle of completing your year-end filing. It’s never too early to begin thinking about your business income taxes. The deadline to file will be here before you know it, and if it sneaks up on you, remember Form 7004!

Form 7004 provides an automatic extension to business owners for up to seven months.

Form 7004 is a simple form with a simple purpose that applies to many business tax forms. Here’s what you need to know to file your Form 7004 like a pro. 

Businesses that can file a Form 7004

Form 7004 applies to business entities that are required to pay business income taxes and file an information return to the IRS. Some of these entities include:

  • A Corporation
  • An S Corporation
  • A Partnership
  • A Multiple-member LLC

What Forms does the extension apply to?

Form 7004 can be applied to a variety of tax forms, but here are a few of the most common ones:

  • 1120
  • 1120-S
  • 1065
  • 1041?

How long is the extension?

The typical extension length that is granted is six months. If you have an April deadline, an extension will give you until October to submit your tax forms. 

C corporations with a tax year ending in June are eligible for a seven-month extension. 

Making tax payments

Please note that you still have to make your estimated tax payments by the original deadline, even if you have filed an extension. 

All tax extensions, including Form 7004, apply only to the information return itself. The IRS still requires that you make your estimated payment to avoid any penalties. 

What information do I need to file Form 7004?

Filing this form is actually pretty simple! You only need your basic business information and some one line Form 7004 Instructions to complete this form and get your extension. Be sure to have the following information available when you sit down to file:

  • Your legal name
  • The name of your business
  • The  EIN
  • The business address
  • Your estimated tax payment

All of this information must match what the IRS has on file. If your business has moved since the last time you filed with the IRS, you will need to file a change of address form as well. 

Where Can I File Form 7004?

ExpressExtension makes filing this form as simple as possible. Our streamlined process ensures that your filing is accurate and timely. 

If your Form 7004 has errors, ExpressExtension allows you to address and resolve them quickly. You will know as soon as you transmit to the IRS that your automatic extension has been granted. 

Create a free ExpressExtension account today and get your extension out of the way!

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