IRS Form 7004 Instructions for
2024 Tax Year

Step-by-Step Instructions to Complete
Form 7004

IRS Form 7004 has two parts:

• Part-I: Automatic Extension for Certain Business Income Tax, Information, and
  Other Returns.
• Part-II: All Filers Must Complete This Part

Part-I: Automatic Extension for Certain Business Income Tax, Information, and
Other Returns.

• Line 1: Enter the appropriate form code in the boxes shown on line 1 to represent the type of return you request an extension.
  For example, if you are filing an extension for Form 1120, enter code 12. If you are filing an extension for Form 1120-S, enter code 25.

  Note: If you are the trustee of a trust required to file Form 1041-A, you must use Form 8868 instead of Form 7004 to request an extension of time to file.

  

Part-II: All Filers Must Complete This Part

• Line 2: If you have an office or place of business outside the U.S. and are requesting an extension to file the income tax return, you must check the box.
  
• Line 3: Check the box if you are the common parent or agent of a consolidated group requesting an extension of time to file the group's consolidated return. If “Yes,” include a statement describing the name, address, and employer identification number (EIN) for each member.
• Line 4: Some foreign or domestic corporations and partnerships are eligible
  for an automatic extension of time to file and pay under Regulations section 1.6081-5. Check the box if you are a corporation or partnership qualified under Regulations section 1.6081-5.

  Regulations Section 1.6081-5:

  Regulations Section 1.6081-5 provides an automatic extension of time for filing tax returns and paying any tax due for certain entities and individuals. It grants an extension until the 15th day of the sixth month following the end of the taxable
  year for:

  • Partnerships that keep records outside the U.S. and Puerto Rico.
  • Domestic corporations that conduct business and keep records outside the U.S. and Puerto Rico.
  • Foreign corporations with an office or place of business in the U.S.
  • Domestic corporations whose principal income comes from U.S. possessions.
  • U.S. citizens or residents whose tax homes and residences are outside the U.S. and Puerto Rico.
  • U.S. citizens and military or naval service residents stationed outside the U.S. and Puerto Rico.
• Line 5a: If your business does not follow a calendar tax year, then provide the beginning and end dates of its tax year.
• Line 5b: If your business has a short tax year, Check any of the applicable boxes on line 5b to indicate the reason for the short tax year. If the box for "Change in accounting period" is checked, you must have applied for approval to change your tax year unless certain conditions are met. For more details, refer to Form 1128 and Pub. 538 (Accounting Periods and Methods). If none of the listed reasons apply to your short tax year, check the "Other" box and attach a statement explaining the reason.
• Line 6: Enter the total tax, including any nonrefundable credits you expect to pay for the tax year.
• Line 7: Enter the total payments and refundable credits.
• Line 8: Enter the total balance due to the IRS for the tax year. Please note that Extension Form 7004 does not extend the time to pay tax.

Deadline to File Form 7004 for the 2024
Tax Year

Generally, the deadline to file Form 7004 is the same as the original deadline for the tax form you’re requesting an extension for.

For example, if you're an S-corp and need an extension to file your Form 1120-S, the deadline is March 17, 2025.

How to File Form 7004?

Form 7004 can be filed on paper or electronically. However, the IRS encourages businesses to choose e-filing for quicker and more efficient processing. If you choose to file your extension form on paper, you must complete all the required information and send it to the appropriate mailing address to the IRS via email.

Click here to check out the correct mailing address for the respective forms.

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