Form 7004: Extending Your Business Income Tax Filing Deadline
Understanding Form 7004
Form 7004 is an application for an automatic extension of time to file certain business income tax information and other returns. It provides an additional six months beyond the original due date for corporations to complete their tax filings.Filing Requirements
Generally, corporations are required to pay any tax due in full by the original due date of their tax return, excluding any extensions granted. For C corporations and F corporations with fiscal tax year-ends other than June 30, their returns are due on the 15th day of the fourth month after the end of their tax year.Extension Deadline
If a corporation is unable to meet the April 18, 2023 filing deadline, they can request an extension using Form 7004. An extension grants an additional six months, extending the deadline to October 16, 2023.Additional Information
It's important to note that an extension only extends the time to file the tax return, not the time to pay any tax due. Corporations are still responsible for estimating and paying any taxes owed by the original due date.
Form 7004 can be filed electronically or by mail. The electronic filing option is available through the IRS website. If filing by mail, the form must be submitted to the IRS' address for the corporation's location.
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