IRS Form 7004 Automatic Extension for Business Tax Returns LLC and S Corp
Business tax return Form 1120S and 1065 are due by March 15.
If you cannot file by the end of the business day, it might be a good idea to file for an automatic extension Form 7004. The link to IRS website is below. On that page, scroll down and the link to the form is at the bottom of the page.
If you paper file, complete the pdf form and print it out and sign where necessary and mail it before the end of business hours. The USPS stamp would have a date that proves to IRS when they received your extension after March 15 that you file it on time. Mail your return via USPS with tracking number and file the receipt with a copy of the extension form for your business record.
Even if filing Form 7004 gives you some months to file your business tax return, it doesn’t give extend the date for any payment you might own IRS. You still need to pay your taxes on time.
Also, it doesn’t mean you need to wait months to file your business tax return. You or your partners need schedule k-1s to file your personal income tax return 1040 due mid-April. If you don’t have the schedule k-1s ready on time, you might need to request an extension to file form 1040. Filing form 1040 without the schedule K-1 especially if your business has a profitable year, you might have to amend your form 1040 if you paid less tax than you should.
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