It's Not Too Late to File IRS Form 7004
Don't Miss the September 30th Deadline
File Now and Avoid Penalties
If you missed the April 15th tax filing deadline and have been putting off filing, don't wait any longer. The IRS offers an extension until September 30th, 2023, to file Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns.
Form 7004 allows individuals, businesses, and trusts to request an automatic six-month extension to file their tax returns and pay any taxes owed. It's a convenient option for those who need more time to gather their records, consult with a tax professional, or deal with unexpected circumstances.
Benefits of Filing Form 7004:
- Avoids penalties
- Grants additional time to complete your return
- Provides peace of mind knowing your extension is approved
Consequences of Not Filing Form 7004:
- Late filing penalties
- Interest on unpaid taxes
- Potential for legal action
To file Form 7004, you can download it from the IRS website, complete it online using tax software, or visit an IRS office. Make sure to submit your form by September 30th, 2023. Even though the deadline is extended, it's still recommended to file as soon as possible to avoid any potential issues.
Remember, filing Form 7004 does not extend the deadline for paying your taxes. If you owe taxes, you must pay them by April 15th, regardless of when you file your return. If you cannot pay the full amount due by the deadline, you can apply for an installment agreement through the IRS.
Don't hesitate to reach out to a tax professional if you have any questions or need assistance with filing Form 7004. They can provide valuable guidance and help you navigate the tax filing process smoothly.
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