Form 7004 | Entity Extension
IRS Form 7004 is used to file for an automatic extension of time when filing business tax returns for a partnership, a multiple member LLC filing as a partnership, a corporation, or s-corporation. The IRS form 7004 will provide your businesses with the convenience of a 5-1/2-Month, 6-Month or 7-Month extension before the original due date of the tax return. Form 7004 must be filed on or before the due date of March 15th of the applicable tax year. To avoid any late fees and penalties, be sure to file your extension before the recommended due date. Otherwise you may be subject to receiving a penalty from the IRS, which can be as much as 25%.
- Part I: Automatic 6-Month extension – If you are applying Form 7004 tax extension for a C Corporation with a tax season ending on December 31, you are given an automatic 6-Month of time to file from the due date of the return.
- Part II: Automatic 5-1/2-Month extension – If you are applying Form 7004 tax extension for particular estates and trusts, you are given an automatic 5-1/2-Month of time to file from the due date of the return.
- Part III: Automatic 6-Month extension If you are applying Form 7004 tax extension for forms Part I and IV whose tax year doesn’t end on December 31 or June 30 as well as other forms, you are given an automatic extension of 6-Month.
- Part IV: Automatic 7-Month extension – If you are applying for an extension for the Form 7004 for a C Corporation with a tax season ending on June 30, you are given an automatic 7-Month extension of time to file from the due date of the return. Form 1120-POL – The filers are eligible for an automatic 6-Month extension of time to file from the due date of the return