March 9, 2020

The IRS Extends Tax Return and Payment Deadlines until July 15, 2020, for Victims of Tennessee Storms

By John Bonk, Director, Tax & Business Services

The IRS Extends Tax Return and Payment Deadlines until July 15, 2020, for Victims of Tennessee Storms Tax & Business

Victims of last week’s Tennessee storms may qualify for an extended due date of July 15, 2020, for their Federal tax returns and payments originally due between March 3, 2020, and July 15, 2020. Any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance, qualifies for the extension.

Filing and penalty relief automatically applies to taxpayers in the affected areas, based on the IRS record of taxpayer location. No additional action is required.

The IRS disaster relief website provides details of returns, payments, and tax-related actions that qualify for the extension.

Tennessee has not yet extended its filing or payment deadlines; however, we expect the State to follow the Federal action and to issue guidance in the near future.

Please contact your Marcum State and Local Tax advisor to address any questions regarding filing requirements for those affected by the recent Tennessee storms.