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.

FILE FORM 7004, Application for Automatic Extension of Time to File Certain Business Income Tax Returns

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!

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