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News and Update

December 2017

Form revisions. Form 7004 has been simplified and now consists of two parts. Part I now includes, in form number order, all forms for which an extension can be granted. Filers requesting an extension will enter the form code for the return for which the extension is granted in the box located at the top of Part I.

Part II now includes questions for all filers. Address changes for filing Form 7004. The address for filing Form 7004 has changed for some entities located in Georgia, Illinois, Kentucky, Michigan, Tennessee, and Wisconsin.

For more information see Where to File (https://www.irs.gov/pub/irs-dft/i7004--dft.pdf )

Oct. 06

There are four requirements all businesses must meet in order to successfully file a form 7004-business extension:

  • E-file your form 7004 properly. Our ETAX7004.com tax specialists are here to assist you 24/7.
  • Make a proper estimate of the tax, if applicable. Use a ETAX7004.com application to help you calculate this.
  • E-File Form 7004 to request an extension by the due date of your tax return.
  • Pay any tax due by the filing deadline.

By following these four easy steps you can avoid penalties with the IRS.

March 15

Deadline for corporate tax returns (Forms 1120, 1120A, and 1120S), or to request automatic 6-month extension of time to file (Form 7004). Final deadline to file an amended corporate tax return (Form 1120X) for tax year 2007 and still claim a tax refund.

April 17

Note: The due date to file any 1040s tax series form is April 17, 2018 instead of April 15, because of the Emancipation Day holiday in the District of Columbia—even if you do not live in the District of Columbia

Deadline to file individual tax returns (Form 1040, 1040A, or 1040EZ) or to request an Automatic Extension (Form 4868). An extension provides an extra six months to file your return. Payment of the tax is still due by April 17th. You can submit payment for tax along with the extension form. Deadline to file estate income tax or trust income tax returns (Form 1041) or to request an automatic 5-month extension of time to file (Form 7004). Deadline to file partnership tax returns (Form 1065) or to request an automatic 5-month extension of time to file (Form 7004). Final deadline for estates, trusts, or partnerships to file an amended tax return and still claim a tax refund for the year 2017. Deadline to file estate income tax or trust income tax returns (Form 1041) or to request an automatic 5-month extension of time to file (Form 7004). Deadline to file partnership tax returns (Form 1065) or to request an automatic 5-month extension of time to file (Form 7004).

Deadline to file TD F 90-22.1 Report of Foreign Bank Accounts for the year 2017. This report is required if you have over $10,000 (in aggregate) held in foreign bank accounts.  In 2015, federal law changed the FBAR due date to April 15 to coincide with the Federal income tax filing season.  (See https://www.fincen.gov/sites/default/files/shared/FBAR_Due_Date_Announcement_12-16-16.pdf for more information.) An automatic 6-month extension will be granted.

May 15

Deadline for non-profit organizations to file information returns (Form 990), or request an extension (Form 8868).

June 15

2nd quarter estimated tax payments due for 2017 tax year. Deadline for US citizens living abroad to file individual tax returns and to pay any tax due. You can request an additional 4-month extension using Form 4868. (Tip: you can also request an automatic extension by April 15th.)