Partnerships and S Corporations Extension

• Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

What Is This About?

Form 7004 is used by partnerships and S corporations to request an automatic extension for filing certain tax returns.

• This does not extend the time to pay taxes owed—it only extends the filing deadline.

• The typical extension period is 6 months, meaning most business tax returns can be filed later without penalties for late filing.

Why Is This Important?

• Helps businesses avoid late-filing penalties if they need more time to prepare their returns.

• Applies to various business tax returns, including Forms 1065 (partnerships) and 1120-S (S corporations).

• Must be filed before the original tax deadline (usually March 15 for calendar-year businesses).