Simple Steps to a Business Tax Extension

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to eFile IRS Form 7004.

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How It Works: eFile IRS Form 7004

You’re only a few minutes away from extending your business tax return due date by 6 months. Here’s how to extend your IRS business income tax deadline using FileLater to e-file Form 7004 which extends your filing deadline for IRS Forms 1120, 1120S, 1065 and many more.

Step 1:

Provide the business data the IRS requires for you to file a tax extension. This includes the business name, address and Tax-ID/EIN. Prior year tax returns and all of those complicated tax forms are not required and the IRS doesn't even ask for a reason! All of the information you provide is kept safe and secure and not shared with anyone but the IRS, period.

Step 2:

Estimate the total income tax payment for the filing year, and provide the amount already paid to the IRS through quarterly payments if applicable. Many business customers simply multiply their profits by last year’s tax rate to estimate the total tax liability for the current year. If you expect to owe and you want to make a tax payment to avoid potential IRS interest and late payment penalties, we can help you make that payment directly to the IRS via Electronic Funds Withdrawal (EFW) from your business bank account. Remember: S corps and Multi-Member LLC's have no tax liability. All tax liabilities are passed through to the underlying shareholders or LLC members.

Step 3:

Once you submit your business tax extension with FileLater, we will electronically e-file it to the IRS for approval. FileLater is an authorized IRS e-file provider which means your data, and our transmission to the IRS, is safe and secure… so you have nothing to worry about.

That’s all it takes

Within minutes, we'll send you an email notifying you that your business income tax extension was approved by the IRS. If for any reason your tax extension is rejected, we’ll tell you why, and you can resubmit for free after making any changes. Almost all rejections are caused by either a Tax-ID not matching IRS records or filing as the incorrect business entity type (i.e. filing as an S Corp and the IRS doesn't recognize the entity as one). As long as you submit your information accurately and on time, it will be approved — that’s why the IRS calls it an “Automatic Extension".

If you have any questions, our support staff is standing by to help. E-File Tax Form 7004 now!

File Your Business Tax Extension Now!

Avoid IRS Late Filing Penalties

The penalty for a corporation failing to file a tax return or a tax extension is the same as the standard penalty for individuals with regards to filing an 1120 or 1120-A. In other words, the IRS assesses a penalty of 5% for any unpaid tax for each month the tax return is late, up to a maximum of 25%. If you fail to file either IRS Form 7004 or business tax return by the appropriate filing deadline (March 15th for S Corps, Multi Member LLC's and Partnerships and April 15th for C Corporations), the IRS will charge interest and penalties on any unpaid Federal taxes. If you do not file and you owe tax, the failure-to-file penalty is 5% per month (up to 5 months) of the amount due. If your return is more than 60 days late, you may be subject to a $210 minimum penalty. The IRS will also impose a failure-to-pay penalty of 0.5% per month (up to 25%) of the amount due if you file a return or extension, but don’t pay all your taxes due on time.

If an S Corporation, Multi Member LLC or a Partnership fails to file a tax return or a tax extension, the penalty is $195 PER MONTH, PER PARTNER, LLC MEMBER or SHAREHOLDER for up to 12 months, with additional penalties if the S Corp, LLC or Partnership fails to furnish Schedule K-1s to its shareholders, members or partners.

Need help or support? Contact us

FileLater provides a secure online solution for individuals and businesses seeking to e-file an IRS income tax extension. FileLater is an authorized IRS e-file provider and files both IRS 4868 and IRS 7004 forms electronically. Prices determined at the time of efile and are subject to change without notice.
Owned and Operated in the United States.

Need help or support? Contact us

FileLater provides a secure online solution for individuals and businesses seeking to e-file an IRS income tax extension. FileLater is an authorized IRS e-file provider and files both IRS Form 4868 and IRS Form 7004 electronically. Prices determined at the time of efile and are subject to change without notice.
Owned and Operated in the United States.