Victims of the recent tornadoes and severe storms in parts of Tennessee, including Nashville, will have until July 15 to file various individual and business tax returns and make tax payments, according to www.irs.gov.
The IRS is offering this relief to any area designated by the Federal Emergency Management Agency as qualifying for individual assistance; this currently includes Davidson, Putnam and Wilson counties, but taxpayers in localities added later to the disaster area automatically will receive the same filing and payment relief. The current list of eligible localities is available on the disaster relief page on IRS.gov.
The tax relief postpones various tax filing and payment deadlines that occurred starting March 3. As a result, affected individuals and businesses will have until July 15 to file returns and pay any taxes that originally were due during this period. This includes 2019 individual and business returns typically due April 15, as well as various 2019 business returns due March 15. It also means affected taxpayers will have until July 15 to make 2019 IRA contributions.
The July 15 deadline also applies to quarterly estimated income tax payments due April 15 and June 15 and the quarterly payroll and excise tax returns typically due April 30.
In addition, penalties on payroll and excise tax deposits due on or after March 3 and before March 18 will be abated if the deposits are made by March 18.
