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Tennessee Tax Deadline Extended for Certain Counties

Tennesseans living in areas affected by severe thunderstorms, winds, tornadoes, and flooding, will now have more time to file their taxes. In response to the Federal Emergency Management Agency’s disaster declaration, the IRS has now extended the tax deadline for certain areas in Tennessee, moving the due date to August 2, 2021. This announcement includes individuals, businesses, and tax-exempt organizations.

Counties that Qualify for the Tax Deadline Extension 

The following counties qualify for the extended deadline: Campbell, Cannon, Cheatham, Claiborne, Clay, Davidson, Decatur, Fentress, Grainger, Hardeman, Henderson, Hickman, Jackson, Madison, Maury, McNairy, Moore, Overton, Scott, Smith, Wayne, Williamson, and Wilson.

Quick Facts: Here’s What You Should Know

If you receive a letter from the IRS…

Do not panic if you receive a late filing or payment notice from the IRS. Simply call the phone number listed on the penalty notice and ask the IRS to abate the penalty. 

If you were affected by the storms and do not live in the covered area…

What if you were affected by the severe weather but do not live or have a business within the qualifying Tennessee counties? The IRS identifies taxpayers located in the covered disaster area automatically to apply this relief. However, if you are outside of the covered disaster area, and were negatively impacted by the storms, call the IRS disaster hotline at 866-562-5227.

If you sustained damage from the storms…

For those who live or have a business in the disaster area, you can claim disaster-related casualty losses on your federal income tax return. This could also include personal property losses not covered by insurance. If you are claiming the disaster loss on a 2020 tax return, note “Tennessee Severe Storms, Straight-line Winds, Tornadoes, and Flooding” in bold letters at the top of the form, including the disaster declaration number (FEMA 4601-DR) on the return as well.

IRS Resources to Review

Need Help Planning Your Taxes? 

Southwestern Investment Group advisors can analyze your personal or business financial plan to maximize your tax benefit. Contact us today to schedule a consultation.

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