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, 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.

Related Topics

Related Resources

IRS Notice CP21C – Changes to Your Form 1040

Received an IRS CP21C notice? Learn more about notice CP21C and how to handle it with help from the tax experts at H&R Block.

IRS Payments

Learn about your options to pay your tax debt. Read the IRS definition and get more insight from the tax experts at H&R Block.

Tax Reform and Expats – A Brief Look

Expats are subject to the latest tax bill changes much like any other taxpayer. Learn more about the effects of tax reform on Expats with H&R Block.

How do I file an extension for taxes?

You can file an extension for your taxes by filing Form 4868 with the IRS online or by mail. This must be done by the tax filing due date. Filing an extension for your taxes gives you additional months to prepare your return no matter the reason you need the extra time.