Form 7004 is used to file for an extension of time to file business tax returns. The IRS form 7004 provides businesses with an extension of time that can vary from a 5 to 7-Month extension after the due date of the tax return. To avoid any late penalties, be sure to file your extension before the deadline. Penalties from the IRS can be as high as 25%. Deadlines may vary for every business type please refer to the official IRS deadline page to verify your deadline date. However, any business taxes must be paid before the deadline or on the deadline date of the form. Form 7004 does not provide an extension to pay any owed taxes. Form 7004 only provides the business to obtain an extension of time to file the form. The IRS does not accept multiple returns on one Form 7004. You must file a separate Form 7004 for each tax return you are requesting a tax extension on.
To file Form 7004 Extension online, the taxpayers must gather all documents such as:
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