When and Where to File IRS Form 7004 Online

irs form 7004

The IRS tax Form 7004 can be used by businesses and corporations to request an automatic six-month extension of time to file business information, income tax, and other returns. With the help of the Tax2efile application, you can file 7004 online and submit it to the IRS. The IRS Form 7004 offers businesses an extension of time to file the information returns, which might vary from 5 to 7 months extension period after the due date of the tax return.

E-filing IRS Form 7004 Online

The best way to avoid late penalties in submitting tax returns is to file the tax extension form with the IRS within the due date. Penalties from the IRS could be as high as 25%, and most taxpayers resort to filing the tax extension Form 7004 online to avoid late filing penalties. Businesses must remember that they have to pay their business taxes on or before the deadline, even if they file for a tax extension using Form 7004.

Form 7004 does not offer an extension to pay the owed taxes to the IRS. This Form only allows the business to obtain a time extension to file the tax Form. The IRS will not accept multiple returns on one 7004 Form but encourages businesses to file separate Forms on each tax return, for which they are requesting tax extension.

If the business files Form 7004 on paper and file their returns electronically, then their return will be processed before granting the extension. This might result in a penalty notice from the IRS.

Exceptional Forms that Cannot E-File 7004

Tax Extension Form 7004 can be filed electronically with Tax2efile for most tax returns. Most tax forms can be filed using Form 7004 electronically, there are some exceptions. Forms such as 8876, 8613, 8612, 8725, and others cannot be filed electronically using Form 7004. However, businesses that need more time to file their corresponding tax forms can still request an automatic 6-month extension using Form 7004. They have the option to file this form either electronically or by mail.

Information required to file Form 7004

The businesses will require the following information and documents to file Form 7004 Extension with the IRS.

  • Business name, Employee identification number, and business address.
  • Type of business, which could be a partnership firm or corporation.
  • Type of tax Form for which the business is requesting an extension.
  • A correct estimate of the amount of tax that the business owes to the IRS.

E-file Tax Extension Form With Tax2efile

Tax2efile is one of the best portals for businesses to file Tax Extension Form 7004. This will entail an automatic extension of six months for businesses to file their returns. The step-by-step process for filing tax extensions through Tax2efile is as follows.

  • Businesses have to create their free account and select Form 7004 extension.
  • The next step is to enter the business information and the business entity type as applicable.
  • The business then has to enter the tax year information and details of the tax Form
  • The next step is to calculate the taxes and enter the information
  • Check and submit the Form to the IRS.
  • They will get an email confirmation from Tax2efile with the status update from the IRS.