Tax Trails - Extension to File
You must file Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, on or before the due date of the entity's tax return in order to receive an automatic six-month extension to file Form 1120, with certain exceptions. C corporations whose tax year ends on December 31 are allowed a five-month extension of time to file and C corporations whose tax year ends on June 30 are allowed a seven-month extension of time to file.
File Form 7004 with the Internal Revenue Service Center listed in the Instructions for Form 7004.
An automatic extension of time for filing an income tax return won't extend the time for payment of the tax due on the return.
Generally, a corporation should pay the tentative tax shown on Form 7004. The IRS will allow automatic extensions of time to file corporate income tax returns without payment of tax as long as the corporation has paid all other prior year tax liabilities and a Form 1138, Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback, filed together with Form 7004, shows an expected net operating loss carryback that will eliminate the tentative tax shown on Form 7004.