The internal revenue service has recently been taking steps to cut down on clutter and streamline the tax filing process. Now theyve simplified business tax return extensions.
Automatic Extension Requests For Businesses
In past years, some businesses had to go through a lot of paperwork to file request for extensions to file annual business tax returns. This included filing partial extension forms such as forms 8800, 8736, 7004 and 2758. I get a headache just thinking about it. Apparently, IRS agents got one as well and have decided to do something about.
The internal revenue service has announced it is doing away with all the different forms for filing requests for an extension to file business tax returns. Now, all businesses can use one form to get an automatic six month extension. Form 7004 is the document you will need. It is entitled Application for Automatic 6 Month Extension to File Certain Business Income Tax, Information and Other Returns. Okay, so the IRS hasnt figured out short titles. This is still a positive step in reducing the morass of forms typically required to get extensions.
To use Form 7004 for your 2005 tax filings, you must...
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