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Form 7004: What to do When Your Business Needs More Time

IRS Form 7004 – Application for Automatic Extension of Time to File Business Income Tax

As we begin to approach tax season deadlines, PDFfiller takes a moment to look at the forms used to request tax filing extensions, starting with IRS Form 7004 for business tax extensions.

What is the purpose of Form 7004?

The Form 7004 is used to request an automatic extension of time to file business income tax forms, information, and other returns.

Who needs the Form 7004?

Filers of certain business income tax forms need Form 7004 if they are planning to file an extension. Keep in mind that filing an extension is only to file the paperwork, not to pay the tax due. To avoid penalties and interest, tax that is due should be paid on, or before the filing due date of the form.

The forms that the Form 7004 is applicable to are as follows:

  • For an automatic 5-month extension, the forms are Forms 1065, 8804, 1041 (estate other than a bankruptcy estate), and Form 1041 (Trust).
  • For automatic 6-month extension, the Form 7004 is applicable to the Forms 706-(D), 706-GS (T), 1041 (Bankruptcy estate only), 1041-N, 1041-QFT, 1042, 1065-B, 10661120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-ND (Section 4951 taxes), 1120-PC, 1120-POL, 1120-1120-RIC, 1120S, 1120-SF, 3520-A, 8612, 8613, 8725, 8831, 8876, 8924, 8928.

Note that a separate Form 7004 has to be filed for each form. There is no blanket filing of the Form 7004.

Is Form 7004 accompanied by other forms?

No, the 7004 Form is not accompanied by other forms.

When is Form 7004 due?

Form 7004 must be filed on or before due date of the applicable tax form that the extension is being filed for.

If your business is organized as a corporation, the income tax return or extension is due by the 15th day of the 3rd month after the end of your tax year. If your business is organized as a partnership, your income tax return or extension is due by the 15th day of the 4th month after the end of your tax year.

How is Form 7004 completed?

The 7004 form is a three-part form. Part I, (Automatic 5-Month Extension), Part II (Automatic 6-Month Extension), and Part III, (All filers Must Complete This Part)

Part I:

Line 1a: Enter the appropriate form code in the boxes on this line to indicate the type of return for which you are requesting an extension.

Part II:
Line 1b: Enter the appropriate form code in the boxes on this line to indicate the type of return for which you are requesting an extension.

Line 2: Check the box on line 2 if you are requesting an extension of time to file for a foreign corporation that does not have an office or place of business in the U.S.

Line 3: This is applicable to corporations only. Only the common parent of a consolidated group can request an extension of time to file the group consolidated return. Refer to form instructions for more details.

Part III:
Line 4: Corporations or Certain Partnerships That Qualify Under Regulations 1.6081-5

Exceptions for foreign and certain domestic corporations.

Certain foreign and domestic corporations are entitled to a 3-month extension of time to file and pay under Regulations Section 1.6081-5. These entities do not need to file the Form 7004 to take this 3-month extension and must file (or request an additional extension of time to file) and pay any balance due by the 15th day of the 6th month following the close of the tax year. Refer to the form instructions (page 2) for more details.

Line 5a: Check the applicable box for the reason for the short tax year.

Line 6: Enter the total tax, including any nonrefundable credits, the entity expects to owe for the tax year.

Line 7: Enter the total payments and refundable credits.

Line 8: If the entity is a corporation or affiliated group of corporations filing a consolidated return, the corporation must remit the amount of the unpaid tax liability shown on line 8 on or before the due date of the return. Refer to form instructions for more details.

What is the mailing address for Form 7004?

Where you would mail the 7004 Form depends on the form number that you are requesting the extension for. Refer to page 4 of the form instructions for the mailing addresses.