Filing taxes can be a complex and stressful process, but understanding the necessary forms and procedures can make it more manageable. One critical form for businesses is Form 7004, which allows you to request an automatic extension of time to file certain business income tax, information, and other returns. In this step-by-step guide, we’ll walk you through the key aspects of Form 7004, including who needs to file, which tax forms are eligible, the longevity of the extension, and when and how to submit the form.
Key Takeaways
- When to File: Form 7004 must be filed on or before the due date of the applicable tax return. The due dates of the returns can be found in the instructions for the applicable return.
- Exceptions: See the instructions for Part II, line 2, for foreign corporations with no office or place of business in the United States. See the instructions for Part II, line 4, for foreign and certain domestic corporations and for certain partnerships.
- How and Where To File: Form 7004 can be filed electronically for most returns. However, Form 7004 cannot be filed electronically for Forms 8612, 8613, 8725, 8831, 8876, or 706-GS(D). For details on electronic filing, visit IRS.gov/efile7004. If you do not file electronically, file Form 7004 with the Internal Revenue Service Center at the applicable address for your return, as shown in Where To File later in the instructions for Form 7004. If you file Form 7004 on paper and file your tax return electronically, your return may be processed before the extension is granted. This may result in a penalty notice.
- Signature: No signature is required on Form 7004.
What is Form 7004?
Form 7004 is an IRS authorization form used to request an automatic extension of time to file certain business income tax, information, and other returns. The extension will be granted if you complete Form 7004 properly, make a proper estimate of the tax (if applicable), file Form 7004 by the due date of the return for which the extension is requested, and pay any tax that is due.
Note. Do not use Form 7004 to request an automatic extension of time to file Form 1041-A. Instead, use Form 8868.
Why is Form 7004 important?
Form 7004 is important for business owners to request a tax filing extension for certain tax forms. The IRS uses the form to document the businesses that have requested an extension and to grant those extensions.
On the form, businesses can indicate the specific tax forms they need an extension for. Once filed, Form 7004 grants you an automatic extension of up to six months from the original due date for the form in question.
Which tax forms are eligible for a filing extension via Form 7004?
Please note that not every tax form is eligible for a filing extension via Form 7004. In fact, many common tax documents (including Form 941, Form 1040, and Form W-2) aren’t included.
What type of companies does this apply to?
If a 6-month extension on filing your business taxes sounds good, you may wonder whether you’re eligible to file Form 7004 and get one. The answer: it depends primarily on how your business is legally structured.
Four business types can file Form 7004 to get an extension. They include:
- Traditional corporations (or C corps)
- Multi-member limited liability companies (LLCs) that file taxes as a partnership
- Partnerships
- S-Corporations
If your business doesn’t file taxes as one of those four types, then you are not eligible to submit for an automatic filing extension via Form 7004.
How to file Form 7004 and get an extension
For eligible businesses, let’s delve into the how and when of filing Form 7004 and securing your extension. In order to complete Form 7004, you’ll need to have the following information handy:
- Business name, address, and identifying number
- The tax form(s) you’re requesting an extension on
- Tentative total tax, payments, and credits to date, and balance due
Note: It’s important to remember that you must file a separate 7004 form for each tax form that requires an extension. So, if you need an extension on Form 1065 and Form 8804, you must file two separate 7004 forms.
Where to File Form 7004?
Select the appropriate form from the table below to determine where to send Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns.
File Form 7004 based on the appropriate tax form shown below:
| IF the form is … | AND the settler is (or was at death) … | THEN file Form 7004 at: |
| 706-GS(D) 706-GS(T) | A resident U.S. citizen, resident alien, nonresident U.S. citizen, or alien | Department of the Treasury Internal Revenue Service Kansas City, MO 64999-0019 |
| IF the form is … | AND your principal business, office, or agency is located in … | THEN file Form 7004 at: |
| 1041 1120-H | Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin | Department of the Treasury Internal Revenue Service Kansas City, MO 64999-0019 |
| 1041 1120-H | Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming | Department of the Treasury Internal Revenue Service Ogden, UT 84201-0045 |
| 1041 1120-H | A foreign country or U.S. possession | Internal Revenue Service P.O. Box 409101 Ogden, UT 84409 |
| 1041-QFT 8725 8831 8876 8924 8928 | Any Location | Department of the Treasury Internal Revenue Service Kansas City, MO 64999-0019 |
| 1042 1120-F 1120-FSC 3520-A 8804 | Any Location | Internal Revenue Service P.O. Box 409101 Ogden, UT 84409 |
| 1066 1120-C 1120-PC | The United States | Department of the Treasury Internal Revenue Service Ogden, UT 84201-0045 |
| 1066 1120-C 1120-PC | A foreign country or U.S. possession | Internal Revenue Service P.O. Box 409101 Ogden, UT 84409 |
| 1041-N 1120-POL 1120-L 1120-ND 1120-SF | Any location | Department of the Treasury Internal Revenue Service Ogden, UT 84409-0045 |
| 1065 1120 1120-REIT 1120-RIC 1120-S 8612 8613 | Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin | And the total assets at the end of the tax year are: Less than $10 million: Department of the Treasury Internal Revenue Service Kansas City, MO 64999-0019; $10 million or more: Department of the Treasury Internal Revenue Service Ogden, UT 84201-0045 |
| 1065 1120 1120-REIT 1120-RIC 1120-S 8612 8613 | Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming | Department of the Treasury Internal Revenue Service Ogden, UT 84201-0045 |
| 1065 1120 1120-L 1120-ND 1120-REIT 1120-RIC 1120-S 1120-SF 8612 8613 | A foreign country or U.S. possession | Internal Revenue Service P.O. Box 409101 Ogden, UT 84409 |
When to submit Form 7004?
Any 7004 form is due by the original due date for the form you’re requesting an extension on.
Using our previous example, Form 1065 is due by March 15th for partnerships that use the calendar year as their fiscal year. So, a Form 7004 requesting an extension on Form 1065 is due by the same date.
Whereas, Corporations are required to file their annual return (Form 1120) within four months of the end of their fiscal year. For calendar year companies, that’s April 15th. So a 7004 form requesting an extension on Form 1120 is due by April 15th.
How to submit Form 7004?
Once you’ve filled out a 7004 form for all the tax forms you need an extension on, it’s time to submit them to the IRS and secure your extension. Businesses have two main options for this:
- E-file and pay the IRS online
- Mail in your forms and payments
Note: There are some forms for which the corresponding Form 7004 cannot be e-filed. They include Forms 8612, 8613, 8725, 8831, 8876, and 706-GS(D). For extensions on all other 7004-eligible forms, you can choose to e-file or file by mail.
Can Cleer Tax Help Me File Form 7004?
Absolutely! At Cleer Tax, our dedicated team is committed to addressing your business’s distinct requirements.
We provide comprehensive tax advisory services tailored to your specific needs, covering every aspect of compliance and optimization – including helping you file all tax forms to remain compliant with the IRS. Our goal is to ensure that you capitalize on every available opportunity, leaving no stone unturned when maximizing your tax benefits and minimizing any potential liabilities.
Cleer provides Corporate Income Tax Packages encompassing federal and state income tax filings for a hassle-free experience. We also offer all-inclusive bookkeeping packages, including your monthly statements and federal and state tax returns.
If you need any help, schedule a consultation, or feel free to contact us.
