Tax Deadline Extension to Aug. 2 for Victims of Tennessee Disasters

The IRS announced that victims of severe storms, straight-line winds, tornadoes and flooding that began in Tennessee March 25, 2021 now have until Aug. 2, 2021 to file various individual and business tax returns and make tax payments.

The IRS stated this week, “Those affected by severe storms, straight-line winds, tornadoes and flooding that reside or have a business in Campbell, Cannon, Cheatham, Claiborne, Clay, Davidson, Decatur, Fentress, Grainger, Hardeman, Henderson, Hickman, Jackson, Madison, Maury, McNairy, Moore, Overton, Scott, Smith, Wayne, Williamson, and Wilson counties qualify for tax relief.”

The declaration allows the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. Examples include, deadlines falling on or after March 25, 2021 and before Aug. 2, 2021 are postponed through Aug. 2, 2021. Also included is the May 17 deadline for filing 2020 individual income tax returns and paying any tax due. Taxpayers will have until Aug. 2 to make 2020 IRA contributions.

According to the IRS, “The Aug. 2, 2021 deadline applies to the first quarter estimated tax payment, normally due on April 15, and the second quarter payment normally due on June 15. It also applies to the quarterly payroll and excise tax returns normally due on April 30, 2021. In addition, it applies to tax-exempt organizations, operating on a calendar-year basis, that have a 2020 return due on May 17, 2021. Also, penalties on deposits due on or after March 25, 2021 and before April 9, 2021 will be abated as long as the tax deposits were made by April 9, 2021.”

If anyone impacted by the storms receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer is advised to call the telephone number on the notice to have the IRS abate the penalty.

The IRS will automatically identify taxpayers located in the covered disaster area and will apply filing and payment relief. Affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief.

For more details on the tax relief, visit the IRS website.