IRS Form 7004 Tax Extension in 2025: what is it, instructions, how to fill it out and where to apply

Learn about IRS Form 7004 and how to apply it

Modified on:
August 16, 2025 1:00 pm

In the intricacies of business taxation, IRS Form 7004 is the rescuer that provides businesses with an automatic extension of time for filing their income tax returns. The form is mandatory for businesses that need extra time to gather information and file conforming and accurate tax returns. Below is a step-by-step guide on what IRS Form 7004 is, how to file it, and where to file.

What is IRS Form 7004?

Form 7004, or the “Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” enables businesses to ask for an additional six months’ extension of time to file their tax returns without needing to state why they need it. Form 7004 can be filed for different kinds of businesses such as C corporations, S corporations, partnerships, multi-member LLCs, and some estates and trusts.

Chief advantages of Form 7004

  • Automatic extension: Grants an automatic extension period without a penalty for late-filing.
  • No reason needed: There is no need for companies to offer a reason for needing an extension.
  • Due date to pay tax remains unchanged: Although the filing date is postponed, the tax payment date is unchanged. Corporations must pay and estimate their tax on the first due date in an attempt not to pay penalties and interest.

Who can use Form 7004?

Form 7004 is accessible to different types of businesses:

  • Multiple-member LLCs: Generally taxed as partnerships or corporations.

Filing Form 7004 is a piece of cake after the following steps:

Step 1: Gathering information

Business Name and Address: Keep them updated from time to time and correct.

Identifying Number, enter your Employer Identification Number (EIN) or Social Security Number (SSN). Tax Year and indicate if you are on calendar year or fiscal year.

Step 2: Fill out the form

  • Part 1: Provide the code for the requested tax return (for example, Form 1065 for a partnership).
  • Part 2: Mark boxes where applicable if your business has one or more special conditions.
  • Line 5: Mark your tax year and short tax year designation.
  • Line 6: Predict your total tax liability for the year.
  • Line 7: Enter any previously made payments or credits.
  • Line 8: Line 6 minus Line 7 to find the balance due.

Step 3: File the form

  • E-Filing: Most convenient for quicker processing. Utilize the IRS’s Modernized e-File (MeF) program or tax preparation software such as TaxZerone.
  • Paper filing: Mail the form to the right IRS address depending on where your business is located.
  • Where to file form 7004: The mailing address for Form 7004 varies depending on the type of tax return and location of your business:
  • For Form 1120-H, and Form 1041: If your corporation is in Delaware, Connecticut, or New York, mail to Kansas City, MO 64999-0019. Mail to Ogden, UT 84201-0045 to all other states.
  • Late filing penalties: Late filing of Form 7004 can lead to late payment and late filing tax penalty. Late payment penalty will generally be 0.5% per month or fraction thereof of the tax due, but not more than 25%. 

IRS Form 7004 is a business asset to those companies in need of more time to provide accurate tax returns. Understanding who can utilize it, how the form is prepared, and where the form must be filed will have companies complying with tax code laws without losing dollars on needless penalties. Ranging from partnerships to large corporations, Form 7004 allows for the level of flexibility that is necessary in dealing with financial transactions that incorporate many complexities.

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Jack Nimi
Jack Nimihttps://polifinus.com/author/jack-n/
Nimi Jack is a graduate on Business Administration and Mass Communication studies. His academic background has equipped him with a robust understanding of both business principles and effective communication strategies, which he has effectively utilized in his professional career. He is also an author with two short stories published under Afroconomy Books.

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