Tax relief for Tennessee tornado victims
Victims of recent tornadoes and severe storms in parts of Tennessee, including Nashville, will have until July 15, 2020, to file various federal individual and business tax returns and make tax payments.
The IRS is offering this relief to any area designated by the Federal Emergency Management Agency as qualifying for individual assistance. Currently this includes Davidson, Putnam and Wilson Counties in the state, but taxpayers in localities added later to the disaster area will automatically receive the same relief.
The current list of eligible localities is available on IRS.gov's disaster relief page.
The relief postpones various filing and payment deadlines that occurred starting on March 3. Affected individuals and businesses will have until July 15 to file returns and pay taxes originally due during this period. This includes 2019 individual and business returns normally due on April 15, as well as various 2019 business returns due on March 15. Affected taxpayers will also have until July 15 to make 2019 IRA contributions.
The July 15 deadline also applies to quarterly estimated income tax payments due on April 15 and June 15 and the quarterly payroll and excise tax returns normally due on April 30. It also applies to tax-exempt organizations, operating on a calendar-year basis, that have a 2019 return due on May 15. Penalties on payroll and excise tax deposits due on or after March 3 and before March 18 will be abated as long as the deposits are made by March 18.
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. If an affected taxpayer receives a late-filing or late-payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice. The IRS will also work with any taxpayer who lives outside the disaster area but whose records necessary to meet an affected deadline are in the affected area.
Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at (866) 562-5227. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization.