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 July 15, 2020 .

After you file an 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

Distributions from IRAs and Pensions Form 1099-R

Learn more about the payments from IRAs and Pensions and how to file them on form 1099-R from the experts at H&R Block.

Installment Agreement for Business

Read the IRS definition of an installment agreement for businesses and get more insight from the tax experts at H&R Block.

IRS Business Audits

Is the IRS auditing your business' tax return? Read the IRS definition and get more insight from the tax experts at H&R Block.

Form 4684 – Theft and Casualty Losses

Learn more about IRS Form 4684 with detailed instructions from the tax experts at H&R Block. Find out if you qualify for a theft or casualty loss deduction.