Create and e-File Business Extensions

A tax preparer uses TaxSlayer Pro to file a business return extension

The deadline for filing 1065 Partnership Returns and 1120-S Corporation Returns is March 15. Need more time to get those business returns filed? You can easily apply for an automatic extension of time to file by filling out and e-Filing Form 7004. Keep in mind the extension only extends the time for the return to be filed. It does not extend the time to pay any amount that may be due.

To create extensions for Forms 1120, 1120S, and 1065 in the TaxSlayer Pro desktop program:

  1. Select Miscellaneous from the left side selection pane inside the tax return
  2. Choose Application for Extension (Form 7004) 
  3. Once the extension is complete, Mark Extension Electronic and change Ready to Transmit to Yes
  4. If there is a balance due, fill out the Form 7004 Electronic Payment Information

Simple enough, right?

When you’re ready to e-File your business extensions make sure you’re at the correct transmission table:

  1. Go to the Business section of TaxSlayer Pro
  2. Select Electronic Filing Menu
  3. Choose Transmit Electronic Extensions  (If you transmit from the Transmit Electronic Returns table you’ll transmit the business return, not the extension).

Please note: If you do not transmit the state extension at the same time you send the federal extension, you will need to wait until the federal extension has been acknowledged before sending the state. If you transmit the state right after the federal (or visa versa) you will overwrite the first transmission.

A step by step guide to creating and transmitting business extensions in TaxSlayer Pro can be viewed by clicking the link below. Still have questions? For assistance in completing or transmitting a business extension, call TaxSlayer Pro Customer Support at 706-868-0985.