Federal Income Tax Filing Date Moved to July 15 as State Contemplates Extensions

March 20, 2020

The federal income tax filing due date has been formally extended to July 15 as part of the Tax Relief Filing Act for America in response to COVID-19. This decision was made due to a bipartisan congressional effort to broaden relief from the previously announced payment extensions and penalty and interest relief. 

As of March 20, the Tennessee Department of Revenue is closely monitoring the situation but has not yet issued any official guidance in response to COVID-19. With the moving of the federal income tax due date to July 15, TSCPA anticipates Tennessee will follow federal for franchise, excise and Hall income taxes as it did for the recent tornado disaster areas. Changing due dates for other taxes, such as sales tax and business tax, may not be as straightforward because of the potential impact on tax collections for local governments. There may also be an issue with the statutory authority of the Commissioner to move due dates without legislation. TSCPA will continue to stay in contact with the Department and will let you know as soon as there is any update.

The AICPA and state CPA societies actively called for tax payment and filing relief, as well as for providing timely tax filing resources for accounting professionals and policymakers.