Form 7004 is used to request a business tax extension.
Your request is approved or automatic if you file Form 7004 and submitted by the due date your business tax return is due.
If you have an LLC and is required to file Form 1065, if you could not file it on time and would like to request an extension, you must file Form 7004 by March 15. You also need to pay any tax owed by the due date.
You could file electronically or my mail.
Where to mail your Form 7004 for your LLC?
If you file form 7004 to file Form 1065 later after March 15, you need to send your Form 7004 to the address you would send your Form 1065. Find the address in the instructions for Form 1065 page 5. Locate the address that corresponds to your total asset and your state in the table.
Form 7004 Part 1: Automatic Extension
Line1: For Form 1065 enter the code 09
Part 2
Line 2,3, 4: Check any box that applies to your business.
Line 5a: enter 20 for 2020 tax year
5b: if it is for first form 1065, check initial return.
Line 6: 0
Estimate the total tax your business might owe including refundable tax credits. If the tax is $0, enter 0.
Line 7: Tax paid during the year and refundable credits
Line 8: Line 7-Line 6
IRS would not send you a letter to approve your extension. You are automatically approved if you file Form 7004 on time and accurately.
If you file Form 7004 by mail and e-file your business tax return, IRS might process your business tax return before Form 7004 and assume you file late without an extension and penalize you.
You have 6 months from your regular tax return due date to file your business tax return when you file Form 7004 to request an automatic extension.
Keep in mind that Schedule K-1 data would be reported on partners’ Form 1040. You should file your business tax return by April for the partners to file their Forms 1040 by April 15 with all the necessary information needed.
Links to Form 7004:https://ninasoap.com/categories/2020-federal-tax-forms-and-instructions/
Disclaimer:
“I am not an attorney to practice law. I am not allowed to draft legal documents, give advice on legal matters including immigration, or charge a fee for these activities.” Our contents are informative and based on our knowledge and experience. They are for educational purpose only. Use them at your own discretion.
Affiliate Links Disclaimer:
Our articles contain affiliate links. When you click on one of our affiliate links and make a purchase, we will receive a commission. We thank you very much for your support!
Please Find About our Products and Links Below
Free Download
Would you please check the “Free Download” section on our website for budget spreadsheet, budget planner PDF, tax forms, motivational quotes, checklists, and more for you do download. You don’t need to subscribe to access them. We would like to have you in our community where we interact and encourage each other to reach our goals. We invite you to join our email list, but it is not required to download from Free downloads.
Our Objectives
At Nina’s Soap (Liberman Consulting L.L.C.), you would find information to live a quality life within budget and increase your net worth. Topics covered include personal finance, investment, business management, cooking from scratch and growing some vegetables and fruit to save money and eat healthy. For more, would you please visit our blog or contact us.
Blog: https://ninasoap.com
Contact Information: care@ninasoap.com
You Tube Channel:
Are you a visual type person? We got you covered! You can watch video contents including how to file your business tax returns yourself at:
https://www.youtube.com/c/LibermanConsultingLLC
Liberman Consulting L.L.C. Podcast:
Do you like to listen to podcast while you are busy working to maximize your time and learn at the same time? You can listen to contents including how to save money and create multiple sources of income at:
https://www.buzzsprout.com/1585738/
Join Us for Free
You are invited to join us where you could ask questions, stay motivated and work toward reaching your financial goals
How to Find Previous Articles
To make it easy to navigate our website, would you please check the side bar? Under “Post Archives”, are our “categories”. The links to our prior articles are saved under their appropriate categories. Would you please click on any category under “Post Archives” to read the titles of previous articles and click on the link of your interest to open the article.
Welcome to Our Financial Success Group!
To learn more tips on how to live below your income without sacrificing the quality of your life and start building wealth, would you please join our community for FREE by subscribing here: https://ninasoap.com/membership-join/
Our Online Stores
Welcome to Nina’s Soap our Natural Products Store
Natural soaps are handmade with quality grade natural unrefined oils and butters, food grade sodium hydroxide, and herbs grown in our garden without pesticide or chemical fertilizer—- no additives, no fragrance, no dye.
Towels, washcloths, and cloth napkins are natural and eco-friendly alternatives of paper towels, paper napkins, and tissue papers for you to enjoy in the comfort of your home while saving money and the environment.
Best Seller: Nina’s Soap Flour Sack Individual Hand Towel – Set of 5: Small size cloth napkins to use as individual hand towels in the bathroom instead of paper towels or as napkin in the kitchen for family dinners:
https://ninassoap.com/product/ninas-soap-flour-sack-hand-towel-set-of-5/
Welcome to Liber Label Apparel Store
Customs design clothing, home décor, accessories, and stationery with motivational quotes to lift your mood every day. Business planner inserts, business tax checklist, to do list, many printable of our digital downloads can be purchased here and shipped directly to your door.
Welcome to LiberOutlet.com Resale Store
New and used toys, small kitchen appliances, household products, office supplies, packaging supplies at a bargain price.
Welcome to LiberDownload.com digital products store
Budget and Monthly Expense Tracker, Checklist to create your online store, Depreciation spreadsheet, Inventory and Sales Excel Template…tools you need to manage your money, start, and run your business successfully, and reach your financial success.
Business Consulting Session: Virtual Group Meeting for new Business Owners that need help organizing their business income and expenses and be able to file business taxes themselves:
Small Business Group Session-Quarter 1:
https://liberdownload.com/downloads/small-business-group-session-quarter-1/
Small Business Group Session-Quarter 2:
https://liberdownload.com/downloads/small-business-group-session-quarter-2/
Small Business Group Session-Quarter 3:
https://liberdownload.com/downloads/small-business-group-session-quarter-3/
Small Business Group Session-Quarter 4:
https://liberdownload.com/downloads/small-business-group-session-quarter-4/
Affiliate Links:
Bluehost: We host our websites at Bluehost and like their service. They take the time over the phone to help solve website issues.
https://www.bluehost.com/track/ninasoap/
Leave a Comment
You must be logged in to post a comment.