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Form 7004 Memphis Tennessee: What You Should Know
Extension of Time of Filing a Return. For more information about extensions, e-mail your request to extension sirs.gov. If your request is approved, and you pay the fees, you'll save money due to the reduced interest rates and higher rates of return issued for business returns and the reduced processing time. Form 7004 — Application for Extension of Time for Filing a Business Income Tax Return What is the status of Form 7004? If a timely filed Form 7004 is approved, the IRS will send you a letter stating the time period to file your return from the date when the request for an extension was received (within 60 days of the IRS request). The letter may include a statement of the reasons for the extension and how to contact the IRS. If a timely filed Form 7004 is approved, Form 7004 will be automatically amended on or before October 31 of each year to append the term at the beginning of the term of tax to the end of the term of tax shown on the Form 7004. If a timely filed Form 7004 is not approved, a Letter is mailed to you which includes the IRS request for an extension of time. This Letter will show the time period from the date when the initial request for “Extended of Time to File” was received, which can be changed. A Form 7004 can be filed at any time during the extension period and will be due when the extension period ends. What is the difference between a Form 7004 and Form 7004/8? Form 7004 is the “automatic extension of time to file”. If you are receiving a 6-month extension of time to file to “extend” the closing date of the current tax year or one of a set amount, the tax due for that year is calculated using Form 7004 and the tax due for the following year is calculated using Form 7004/8. If you are receiving an extension beyond the end of the current tax year, it does not affect your calculation of tax due later. Form 7004/8 may not be used if you are filing separately. Form 7004 requires you to complete Part A and Part B and the application must be postmarked by October 31 of the year that you are requesting the extension.
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