When do you prepare a form 7004 for a c corporate
Answer:
when the taxpayer need additional time to prepare an accurate tax return.
Reason:
C-Corporation must file form 7004 to request an automatic extension of time to file certain business income tax, information, and other returns. That is, Form 7004 shall be filled by the C-Corporation by the regular due date of the return.
If C-Corporation files Form 7004 by the original due date of the return, an automatic six-month federal extension will be given to corporation income taxpayers.
A calendar year corporation can receive an automatic 9-month extension to file its corporate return (Form 1120) by timely filing a Form 7004 for the tax year. True False TTTTTT
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How do you think Corporate Finance will change due to COVID-19?
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