Question

I need to know how to request extension and file an S-corporation extension — Do I need to file Form 7004?

Answer

You can extend filing Form 1120S when you file Form 7004. Enter Code 25 in the box on Form 7004, Line 1. You get an automatic five-month extension to file Form 1120S.

Even if you file an extension, you must still pay the tax you owe by April 15, 2020.

After you file extension by submitting Forms 1040 and 1120S, you’ll receive a refund for any tax you overpaid. If you underpaid, then the amount you still owe will be subject to interest and penalties.

Related Topics

Related Resources

Estate Tax

Learn about estate tax from the tax experts at H&R Block.

Direct Deposit Tax Refund Delays

Issues with your bank account could cause tax refund delays. Learn more about direct deposit tax refunds from the tax experts at H&R Block.

Can I Estimate Tax Liability For The Year?

Find out how to reduce your tax liability with help from H&R Block. You can find out if you are withholding enough taxes with our tax liability formula.

Tax Evasion

Failing to file a return is not necessarily considered tax evasion. Read the IRS definition and get more insight from the tax experts at H&R Block.