Free 2008 Instruction 7004 - Federal

2008
Instructions for Form 7004
Section references are to the Internal Revenue Code unless otherwise noted.

Department of the Treasury Internal Revenue Service

Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns
If you do not file electronically, file Form 7004 with the Internal Revenue Service Center at the applicable address for your return as shown in the table, Where To File, on page 4. Signature. No signature is required on this form.

General Instructions
What's New
Changes to Form 7004. Form 7004 has been divided into three parts. Depending on the extension being requested, the entity will complete Part I or Part II of Form 7004. Regardless of the choice made, all filers will complete Part III. 5-month extension of time to file. For Forms 1065, Forms 1041, and Forms 8804 that are due to be filed after December 31, 2008, the automatic extension period has been reduced from 6 months to 5 months. Use Part I, line 1a, to request a 5-month extension of time to file. New return added. Form 8928, Return of Certain Excise Taxes Under Chapter 43 of the Internal Revenue Code, has been added to the list of returns which can use Form 7004 to request a 6-month extension of time to file.

No Blanket Requests
File a separate Form 7004 for each return for which you are requesting an extension of time to file. This extension will apply only to the specific return identified on line 1a or line 1b. For consolidated group returns, see the instructions for line 3.

CAUTION

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Do not complete both Part I, line 1a and Part II, line 1b, of this form.

Extension Period
Properly filing this form will automatically give you the maximum extension allowed from the due date of your return to file the return (except as noted below in the instructions for lines 2 and 4 with regard to foreign corporations, certain domestic corporations, and certain partnerships with their books and records outside of the United States and Puerto Rico). See the instructions for the applicable return for its due date.

Purpose of Form
Use Form 7004 to request an automatic extension of time to file certain business income tax, information, and other returns. The extension will be granted if you complete Form 7004 properly, make a proper estimate of the tax (if applicable), file the form by the due date of the return to which the Form 7004 applies, and pay any tax that is due. Automatic 5-month extension. All the returns shown in Part I, line 1a of Form 7004 are eligible for an automatic 5-month extension of time to file from the due date of the return. Automatic 6-month extension. All the returns shown in Part II, line 1b of Form 7004 are eligible for an automatic 6-month extension of time to file from the due date of the return (see lines 2 and 4 for exceptions). Notifications. The IRS will no longer be sending notifications that your extension has been approved. We will notify you only if your request for an extension is disallowed.

Rounding Off to Whole Dollars
The entity can round off cents to whole dollars on its return and schedules. If the entity does round to whole dollars, it must round all amounts. To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar (for example, $1.39 becomes $1 and $2.50 becomes $3). If two or more amounts must be added to figure the amount to enter on a line, include cents when adding the amounts and round off only the total.

Payment of Tax
Form 7004 does not extend the time for payment of tax. Generally, payment of any balance due on line 8 of Form 7004 is required by the due date of the return for which this extension is filed. Penalty for late filing of return. Generally, a penalty is charged if the return is filed after the due date (including extensions) unless you can show reasonable cause for not filing on time. The penalty is usually 5% of the amount due for each month or part of a month your return is late. Generally, the maximum penalty is 25%. If your return is more than 60 days late, the minimum penalty is $135 or the balance due on your return, whichever is smaller. If you believe you have reasonable cause for not filing on time, attach a statement to your return fully explaining the reasons. See the specific instructions for the applicable return for details. Penalty for late payment of tax. Generally, a penalty of 1/2 of 1% of any tax not paid by the due date is charged for each month or part of a month that the tax remains unpaid. The penalty cannot exceed 25% of the amount due. The penalty will not be charged if you can show reasonable cause for not paying on time. If a corporation is granted an extension of time to file a corporation income tax return, it will not be charged a late payment penalty if the tax shown on line 6 (or the amount of tax paid by the regular due date of the return) is at least 90% of the

When to File
Generally, Form 7004 must be filed on or before the due date of the applicable tax return. The due dates of the returns can be found in the instructions for the applicable return. Exceptions. See the instructions for line 2 for foreign corporations with no office or place of business in the United States. See the instructions for line 4 for foreign and certain domestic corporations and for certain partnerships.

Termination of Extension
The IRS may terminate the automatic extension at any time by mailing a notice of termination to the entity or person that requested the extension. The notice will be mailed at least 10 days before the termination date given in the notice.

How and Where To File
Form 7004 can be filed electronically for most returns. For details on electronic filing, visit www.irs.gov/efile. Click onTax Professionals. However, Form 7004 cannot be filed electronically for Forms 8612, 8613, 8725, 8831, 8876, or 706-GS(D).

Cat. No. 51607V

tax shown on the total tax line of your return, and the balance due shown on the return is paid by the extended due date. Interest. Interest is charged on any tax not paid by the regular due date of the return from the due date until the tax is paid. It will be charged even if you have been granted an extension or have shown reasonable cause for not paying on time. Forms 1065, 1065-B, and 1066. A penalty may be assessed against the partnership or REMIC if it is required to file a return, but fails to file it on time, including extensions, or files a return that fails to show all the information required, unless the entity can show reasonable cause for not filing on time. See the Instructions for Forms 1065, 1065-B, or 1066 for more information.

information using the following format: 8.5 x 11, 20 lb. white paper, 12 point font in Courier, Arial, or Times New Roman; black ink; one sided printing, and at least 1/2 inch margin. Information is to be presented in a two column format, with the left column containing affiliates' names and addresses, and the right column containing the TIN with 1/2 inch between the columns. There should be two blank lines between listed affiliates. Generally, all members of a consolidated group must use the same taxable year as the common parent corporation. If, however, a particular member of a consolidated group is required to file a separate income tax return for a short period and seeks an extension of time to file the return, that member must file a separate Form 7004 for that period. See Regulations section 1.1502-76 for details.

Specific Instructions
Name and identifying number. If your name has changed since you filed your tax return for the previous year, enter on Form 7004 your name as you entered it on the previous year's income tax return. If the name entered on Form 7004 does not match the IRS database and/or the identifying number is incorrect, you will not have a valid extension. Enter the applicable employer identification number (EIN) or social security number. Address. Include the suite, room, or other unit number after the street address. If the Post Office does not deliver mail to the street address and the entity has a P.O. box, show the box number instead of the street address. If the entity's address is outside the United States or its possessions or territories, enter in the space for "city or town, state, and ZIP code," the information in the following order: city, province or state, and country. Follow the country's practice for entering the postal code. Do not abbreviate the country name. If your mailing address has changed since you filed your last return, use Form 8822, Change of Address, to notify the IRS of the change. A new address shown on Form 7004 will not update your record.

CAUTION

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Any member of either a controlled group of corporations or an affiliated group of corporations not joining in a consolidated return must file a separate Form 7004.

Note. Failure to list members of the affiliated group on an attachment may result in the group's inability to elect to file a consolidated return. See Regulations sections 301.9100-1 through 301.9100-3.

Part III All Filers Must Complete This Part
Line 4. Corporations or Certain Partnerships That Qualify Under Regulations Section 1.6081-5
Exceptions for foreign and certain domestic corporations. Certain foreign and domestic corporations (as described below) are entitled to a 3-month extension of time to file and pay under Regulations section 1.6081-5. You do not need to file Form 7004 if you are taking this 3-month extension of time to file and pay. You must file (or request an additional extension of time to file) and pay any balance due by the 15th day of the 6th month following the close of the tax year. Attach a statement to the corporation's tax return stating the corporation qualifies for the extension to file and pay because it is: · A foreign corporation that maintains an office or place of business in the United States, · A domestic corporation that transacts its business and keeps its books and records of account outside the United States and Puerto Rico, or · A domestic corporation whose principal income is from sources within the possessions of the United States. If the corporation is unable to file its return within the 3-month extension, check box 4 on Form 7004 to request an additional 3-month extension. Exceptions for certain partnerships. Partnerships that keep their records and books outside the United States and Puerto Rico are entitled to a 2-month extension of time to file and pay, if applicable. You do not need to file Form 7004 if the partnership is taking the 2-month extension of time to file and pay. Attach a statement to the partnership's tax return stating that the partnership qualifies for the extension of time to file and pay. If the partnership is unable to file its return within the 2-month period, check box 4 on Form 7004 to request an additional extension (3 months for partnerships filing Form 1065, and 4 months for partnerships filing Form 1065-B).

Part I Automatic 5-Month Extension
Line 1a
If you are applying for an automatic 5-month extension, enter the appropriate Form Code in the boxes on line 1a to indicate the type of return for which you are requesting an extension. Enter only one Form Code. If you make a Form Code entry on line 1a, do not make a Form Code entry on line 1b.

Part II Automatic 6-Month Extension
Line 1b
If you are applying for an automatic 6-month extension, enter the appropriate Form Code in the boxes on line 1b to indicate the type of return for which you are requesting an extension. Enter only one Form Code. If you make a Form Code entry on line 1b, do not make a Form Code entry on line 1a.

Line 2
Check the box on line 2 if you are requesting an extension of time to file for a foreign corporation that does not have an office or place of business in the United States. The entity should file Form 7004 by the due date of the return (the 15th day of the 6th month following the close of the tax year) to request the automatic 6-month extension.

Line 5a
If you do not use a calendar year, complete the lines showing the tax year beginning and ending dates.

Line 3
Note. This is applicable to corporations only. Only the common parent of a consolidated group can request an extension of time to file the group's consolidated return. Attach a list of all members of the consolidated group showing the name, address, and EIN for each member of the group. If you file a paper return, you must provide this

Line 5b
Check the applicable box for the reason for the short tax year. If the box for "Change in accounting period" is checked, the entity must have applied for approval to change its tax year unless certain conditions have been met. For more information, see Form 1128, Application To Adopt, Change, or Retain a Tax Year, and Pub. 538, Accounting Periods and Methods.

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Line 6
Enter the total tax, including any nonrefundable credits, the entity expects to owe for the tax year. See the specific instructions for the applicable return to estimate the amount of the tentative tax. If you expect this amount to be zero, enter -0-.

Line 7
Enter the total payments and refundable credits. For more information about "write-in" payments and credits, see the instructions for the applicable return.

Line 8
Form 7004 does not extend the time to pay tax. If the entity is a corporation or affiliated group of corporations filing a consolidated return, the corporation must remit the amount of the unpaid tax liability shown on line 8 on or before the due date of the return. Domestic corporations must deposit all income tax payments by using the Electronic Federal Tax Payment System (EFTPS) or with Form 8109, Federal Tax Deposit Coupon, by the due date of the return. If you file Form 7004 electronically, you can pay by Electronic Funds Withdrawal (EFW). See Form 8878-A, IRS e-file Electronic Funds Withdrawal Authorization for Form 7004. If the corporation expects to have a net operating loss carryback, the corporation can reduce the amount to be deposited to the extent of the overpayment resulting from the carryback, provided all other prior year tax liabilities have been fully paid and Form 1138, Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback, is filed with Form 7004. Foreign corporations that maintain an office or place of business in the United States should pay their tax as described above for domestic corporations. For foreign corporations that do not maintain an office or place of business in the United States and need to make a payment, see Note below. A trust (Form 1041), electing large partnership (Form 1065-B), or REMIC (Form 1066) will be granted an extension even if it cannot pay the full amount shown on line 8. But it should pay as much as it can to limit the amount of penalties and interest it will owe. If the trust, electing large partnership, or REMIC needs to make a payment, see Note below. If you are requesting an extension of time to file Form 1042, see the deposit rules in the instructions for the form to determine how payment must be made. Note. On all checks or money orders, write the entity's taxpayer identification number (TIN), the type of tax return, and the tax year to which the payment applies. Make the check or money order payable to "United States Treasury."

Privacy Act and Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. This information is needed to process your application for the requested extension of time to file. You are not required to request an extension of time to file; however, if you do so, Internal Revenue Code sections 6001, 6011(a), and 6081 require you to provide the information requested on this form. Section 6109 requires you to provide the requested taxpayer identification numbers. Failure to provide the information may delay or prevent processing your application; providing any false information may subject you to penalties. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the Internal Revenue Service to disclose or give such information to the Department of Justice for civil or criminal litigation, and to cities, states, and the District of Columbia for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to Federal and state agencies to enforce Federal nontax criminal laws, or to Federal law enforcement and intelligence agencies to combat terrorism. The time needed to complete and file this form will vary depending on individual circumstances. The estimated average time is:
Recordkeeping . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 hr., 21 min. Learning about the law or the form . . . . . . . . . . . . . 1 hr., 3 min. Preparing the form . . . . . . . . . . . . . . . . . . . . . . . . . 2 hr., 6 min. Copying, assembling, and sending the form to the IRS 16 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can write to the Internal Revenue Service, Tax Products Coordinating Committee, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Do not send the tax form to this address. Instead, see Where To File, below.

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Where To File
IF the form is . . . 706-GS(D) & 706-GS(T) IF the form is . . . AND the settler is (or was at death) . . . A resident U.S. citizen, resident alien, nonresident U.S. citizen, or alien AND your principal business, office, or agency is located in . . . THEN file Form 7004 at: Department of the Treasury, Internal Revenue Service Center, Cincinnati, OH 45999-0045, or for private delivery service: 201 W. Rivercenter Blvd., Covington, KY 41011-1424 THEN file Form 7004 at:

1041, 1120-H

Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Department of the Treasury Jersey, New York, North Carolina, Ohio, Internal Revenue Service Center Pennsylvania, Rhode Island, South Carolina, Cincinnati, OH 45999-0045 Tennessee, Vermont, Virginia, West Virginia, Wisconsin Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming A foreign country or U.S. possession

Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0045

Internal Revenue Service Center P.O. Box 409101, Ogden, UT 84409 Department of the Treasury Internal Revenue Service Center Cincinnati, OH 45999-0045 Internal Revenue Service Center P.O. Box 409101, Ogden, UT 84409 Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0045 Internal Revenue Service Center P.O. Box 409101, Ogden, UT 84409 Department of the Treasury Internal Revenue Service Center Ogden, UT 84409-0045

1041-QFT, 8725, 8831, 8876, 8924, 8928 1042, 1120-F, 1120-FSC, 3520-A, 8804

Any location

Any location

The United States 1066, 1120-C, 1120-PC A foreign country or U.S. possession 1041-N, 1065-B, 1120-POL

Any location

Connecticut, Delaware, District of Columbia, Georgia, And the total assets at the Department of the Treasury Illinois, Indiana, Kentucky, Maine, Maryland, end of the tax year are: Internal Revenue Service Center Massachusetts, Michigan, New Hampshire, New Less than $10 million Cincinnati, OH 45999-0045 Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin 1065, 1120, 1120-L, 1120-ND, 1120-REIT, 1120-RIC, 1120S, 1120-SF, 8612, 8613 Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0045

$10 million or more Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming A foreign country or U.S. possession

Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0045

Internal Revenue Service Center P.O. Box 409101, Ogden, UT 84409

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