EXTENSION OF TIME FOR BUSINESS INCOME TAX FILERS

IRS Tax Form 7004 is the Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns. For tax years beginning from 2016, the extensions of time to file tax returns for partnerships, certain corporations, and trusts and estates (other than bankruptcy estates) have changed. Form 7004 and the related instructions have been modified to reflect the changes effective for the tax year 2016.

Form 7004 is the form used to file for an automatic extension of time to file your business tax return for a partnership, a multiple member LLC filing as a partnership, a corporation, or s-corporation, who are not able to file by the original due date. You need to send in a request for this automatic tax extension well within the due date. Try electronic filing for faster processing of your request and to get a quick acknowledgement.

Applying for a business tax extension will extend your filing deadline for the following business tax returns:

Tax Form 706-GS(D) Tax Form 706-GS(T) Tax Form 1041 (estate other than a bankruptcy estate)
Tax Form 1041 (trust) Tax Form 1041 (bankruptcy estate only) Tax Form 1041-N
Tax Form 1041-QFT Tax Form 1042 Tax Form 1065
Tax Form 1065-B Tax Form 1066 Tax Form 1120
Tax Form 1120-C Tax Form 1120-F Tax Form 1120-FSC
Tax Form 1120-H Tax Form 1120-L Tax Form 1120-ND
Tax Form 1120-ND (section 4951 taxes) Tax Form 1120-PC Tax Form 1120-POL
Tax Form 1120-REIT Tax Form 1120-RIC Tax Form 1120S
Tax Form 1120-SF Tax Form 3520-A Tax Form 8612
Tax Form 8613 Tax Form 8725 Tax Form 8804
Tax Form 8831 Tax Form 8876 Tax Form 8924
Tax Form 8928

Note: You cannot e-file your tax extension request for certain tax forms ― including Form 8612, 8613, 8725, 8831, 8876, or 706-GS(D). To get an extension for these forms, you must mail a paper tax extension request (Form 7004) to the IRS.

Purpose of Form

The extension will be granted if you complete Form 7004 properly, make a proper estimate of the tax (if applicable), file the form by the due date of the return to which the Form 7004 applies, and pay any tax that is due.

Automatic 5-1/2-month extension.

The estate and trust returns are eligible for an automatic 5-1/2 month extension of time to file from the due date of the return. These are the form codes listed under Automatic Extension of time for Certain Estates and Trusts in Part II.

Automatic 6-month extension.

The returns listed in Part l (Automatic Extension for C Corporations with Tax Years Ending December 31) and Part lll (Automatic Extension for Entities Not Using Part I, II, or IV) are eligible for an automatic 6-month extension of time to file the return from the due date of the return. However, Form 1120-POL listed in Part lV is only eligible for 6-month extension of time to file the return from the due date of the return, the instructions for Part V, lines 2 (If the organization is a foreign corporation that does not have an office or place of business in the United States) and 4 (If the organization is a corporation or partnership that qualifies under Regulations section 1.6081-5) for exceptions.

Automatic 7-month extension.

The returns listed in Part lV, (Automatic Extension for C Corporations With Tax Years Ending June 30) except for Form 1120-POL, are eligible for an automatic 7-month extension of time to file from the due date of the return. Form 1120-POL filers are eligible for an automatic 6-month extension of time to file.

Form 8868, Application for Extension of Time To File an Exempt Organization Return is now available for 6 Months. Form 8868 is used by an exempt organization to request an automatic 6-month extension of time (which was 3 months of Automatic Extension earlier) to file its return and also to apply for an additional (not automatic) 3-month extension if the original 3-month extension was not enough.

Automatic 6-month extension time to file or additional 3- month (not automatic) extension for the following forms can be requested by filing form 8868

Form 990 or Form 990-EZ Form 990-T (Corporation)
Form 990-BL Form 1041-A
Form 4720 (Inidividual) Form 990-T (trust other than Individual)
Form 990-PF Form 5227
Form 990-T (sec. 401(a) or 408(a) trust) Form 6069
Form 990-T (trust other than above) Form 8870