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eFile IRS Form 7004 electronically to request a 6-month extension for qualifying business tax returns with real-time acceptance tracking, automated accuracy checks and built-in compliance validations.
Form 7004, also known as “Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” is an IRS form that is used to request an automatic 6-month extension to file (not pay) certain business tax returns.
Note: Filing Form 7004 is only for extending the filing deadline. The form does not extend the time to pay any taxes owed. Businesses filing an extension request must pay the tax due on or before the due date of the return.
The IRS has a few exceptions to the automatic 6-month extension rule for business tax filing.
Form 7004 is filed by the following corporations and entities to request an extension:
Form 7004 is filed by the original due date of the tax return for which the extension is being requested.
Special Rule: C‑corps with fiscal year ending June 30 get a 7‑month extension
Failure-to-File Penalty
If you fail to file your return and you don’t file a valid extension, you may face a failure-to-file penalty of 5% of the unpaid tax per month, up to 25%.
Failure-to-Pay Penalty
Even if you file for an extension, you’re still expected to pay your estimated taxes. If you do not pay, the IRS may charge 0.5% of the unpaid tax per month, up to a maximum of 25%.
Exception
If a corporation gets the filing extension and has paid at least 90% of the total tax due by the original due date (based on what’s shown on the return/Part II estimate) and then pays the rest by the extended due date, there is no late payment penalty (interest still applies on any unpaid amount from the original due date until it’s paid).
To get an automatic 6-month extension to file certain business income tax, information and other returns, follow these three simple steps.
Note: The IRS generally doesn’t send approval notices for extensions. You may be notified only if your extension request is rejected or invalid.