Don’t Pay Unnecessary Penalties – File Your Form 7004 Today!
Don’t Pay Unnecessary Penalties – File Your Form 7004 Today!
If you own a C or S Corporation, next MONDAY March 17, 2014 is your deadline to request a federal extension of time to file your federal business return.
If you do NOT file your return, an extension and/or pay your tax by the due date, you may have to pay penalties.
4 Helpful Tips on Form 7004
- Use Form 7004 to request an automatic extension of time for your business return. It is NOT an extension to PAY taxes but you will avoid unnecessary late filing penalties.
- Form 7004 must be filed on or before the original due date of the business tax return. For corporations, tax deadline is 3/17/14; for partnerships, tax deadline is 4/15/14
- Form 7004 allows for an extension of time of 5 or 6 months, depending on the business entity.
- Form 7004 can be filed electronically or can be mailed to the IRS; if mailed, make sure to keep proof of mailing
If you have a tax professional preparing your taxes, request he/she file an extension for you to avoid unnecessary penalties AND make sure you receive confirmation that it was processed!