TopicWhat is IRS Form 7004?
The IRS Form 7004 needs to be filled out when you need to request some time extension from the IRS for filing the business tax return. For this, you have to be running a partnership, multiple-member LLC that is filing as a partnership, corporation, or S corporation.
In order to make sure that you get the requested time extension, you have to properly estimate your tax dues, file them before the given due date and complete the form correctly. When you fill out this tax form to raise the request, you get a six months extension to file the tax returns. Although the payment deadline does not get extended with this tax form.
A majority of businesses can use this IRS Form to request a time extension to file tax returns. This is an extension application for different types of businesses. These businesses include S corporations, partnerships, and multiple-member LLCs, etc. This form is easily available on the official website of the IRS. You can fill it out either online or offline. For offline filing, you have to take a print out and then mail it to the IRS.
As compared to other IRS Forms, Form 7004 is relatively small. While filling out this form, you have to enter details like name, address, and tax ID number. If you are confused and wondering what is a tax ID number then here is the answer. The tax ID number is typically your employer ID number.
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