I need to know how to request extension and file an S-corporation extension — Do I need to file Form 7004?
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 May 17, 2021 .
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.
If you owe back taxes and don’t arrange to pay, the IRS can seize (take) your property. Learn more from the tax experts at H&R Block.
Get the facts on the IRS tax debt settlement option called an offer in compromise (OIC). Read the IRS definition and get more insight from H&R Block.
The discrepancy between your name and your Taxpayer Identification Number has been corrected. Learn more from the tax experts at H&R Block.
Get the facts about the two types of tax identity theft, what happens when someone steals your tax identity, and how to fix the issue with the IRS.