The Business Income Tax Extension Form 7004 is due for certain business types by March 15th; Corporations, including S-corporations, operating on the calendar year for tax purposes must file for their business tax extension on the 15th day of the 3rd month. Some other business types like Partnerships, LLCs, and sole proprietorships have until April 15th for the due date to file for their tax extension. Don’t wait till the last minute to efile an extension form, file early to get it done right away. Electronic filing is simple, easy and quick; as easy as 1-2-3!
Form 7004 can be e-filed through http://ExtensionTax.com. All the returns shown on Form 7004 are eligible for an automatic extension of time to file from the due date of the return. However, Form 7004 cannot be filed electronically for Forms 8612, 8613, 8725, 8831, 8876, or 706-GS(D). Form 7004 must be filed on or before the due date of the applicable tax return. The due dates of the returns varies with the calendar or fiscal year filing deadlines. File a separate Form 7004 for each return for which you are requesting an extension of time to file.
C-corporations, S-corporations, and certain LLCs are given an extended tax deadline of 6 months that is September 15th, if they are operating based on the calendar year. Partnerships, trusts, certain estates, and some LLCs which is due by April 15th are given an extended due date of 5 months, generally to September 15.
The Form 7004 does not extend the time for payment of tax.
Maximum extension period.
The automatic extension period for time to file is generally 6 months. Exceptions apply for certain filers of Form 1041 and for C corporations with tax years ending June 30. An estate (other than a bankruptcy estate) and a trust filing Form 1041 are eligible for an automatic 5½-month extension of time to file. C corporations with tax years ending June 30 are eligible for an automatic 7-month extension of time to file (6-month extension if filing Form 1120-POL). See the instructions for Part II, lines 2 and 4, for exceptions for foreign corporations, certain domestic corporations, and certain partnerships with books and records outside of the United States and Puerto Rico. See the instructions for the applicable return for its due date.
A corporation with a short tax year ending anytime in June is treated as if the short tax year ended on June 30. Generally, a penalty is charged if a return is filed after the due date (including extensions) unless you can show reasonable cause for not filing on time. A penalty of ½ of 1% of any tax not paid by the due date is charged for each month or part of a month that the tax remains unpaid. The penalty cannot exceed 25% of the amount due. The penalty will not be charged if you can show reasonable cause for not paying on time.
Interest is charged on any tax not paid by the regular due date of the return from the due date until the tax is paid. It will be charged even if you have been granted an extension or have shown reasonable cause for not paying on time.
Don’t wait further, efile your Tax Extension request right away with ExtensionTax.com and push your due date beyond the actual due date.