The IRS has released revised instructions (Rev. December 2017) for Form 7004.
The instructions [PDF 132 KB] for Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, reveal the following measures are new:
The revised version of Form 7004 [PDF 69 KB] was released by the IRS in January 2018.
The instructions reiterate that the IRS will not notify a taxpayer that the extension request has been approved, but will notify the taxpayer only if the request for extension is disallowed. Tax professionals have observed that it is a good practice to contact the IRS to confirm that an extension request has been processed and approved.
The maximum automatic extension period generally is six months, with certain exceptions. The exceptions include:
The instructions clarify that a corporation with a short tax year ending anytime in June is treated as if the short tax year ended on June 30.
On the 2016 version of Form 7004, the categories of returns were grouped by the maximum automatic extension period allowed based on the type of return and the tax year-end. The new Form 7004 does not separate the subject returns by the maximum allowable extension period, but lists all forms in Part I.
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