IRS revises business tax extension form

The Internal Revenue Service has posted a revised version of Form 7004, for applying for an automatic extension of time to file a business tax return, to reflect the fact that businesses can now get an automatic six-month extension.

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The IRS issued a statement Tuesday to announce the revised form and instructions.

“A new revision of the Instructions for Form 7004, updated in the last few days at IRS.gov/LatestForms, correctly reflects that calendar year C corporations are eligible for an automatic 6-month extension of time to file their income tax returns,” said the IRS statement.

“Although Internal Revenue Code section 6081(b) provides a 5-month automatic extension period for calendar year C Corporations, the IRS is granting a 6-month automatic extension under section 6081(a) instead. This change is reflected in the new revision of the Instructions for Form 7004.

“The IRS wants to reassure the tax professional community that the information is correct in the Form 7004 instructions regarding the automatic 6-month extension. Information regarding Form 7004 and its instructions is available at IRS.gov/form7004.”