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Common questions about generating corporate extensions with Form 7004 in Lacerte

by Lacerte Tax 2022 Updated 1 year ago

Below, you'll find answers to frequently asked questions about generating corporate extensions.

Electronic Funds Withdrawal may be used to pay the tax due with the extension:

  1. Go to Screen 4.1Miscellaneous Information.
  2. Scroll down to the Direct Deposit of Refund (8050) / Electronic Payment section.
  3. Check the box labeled Electronic payment of tax due with extension.


Additional information

  • The program uses the original due date for the electronic payment date.
  • Enter the date in mm/dd/yy format in Extension payment date [O] if you want the debit of the electronic payment to take place on a day other than the original due date.
    • The IRS e-file program doesn't allow the electronic payment date to be delayed after that date for holidays.
    • If the taxpayer's bank is closed for a specific holiday, the electronic payment will be withdrawn the next business day.
  • The IRS doesn't support the electronic payment of estimates with the filing of a corporate return. All estimated tax payments must be paid using the Electronic Federal Tax Payment System (EFTPS).
Lacerte Tax

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