TSCPA News

Tax Filing Extensions for TN Tornado Victims Issued by TN Dept of Rev

July 10, 2020

The Tennessee Department of Revenue recently issued Notice #20-22, postponing the franchise and excise tax and Hall income tax filing and payment deadlines to Oct. 15, 2020 for taxpayers located in Bradley or Hamilton County. This is consistent with the IRS’s decision to extend federal deadlines for individuals and business located in these counties.

This tax relief postpones the franchise and excise tax and Hall income tax filing and payment deadlines that occur between April 12 and Oct. 15, 2020. Affected businesses and individuals will have until Oct. 15, 2020, to file returns and make any payments (including estimated tax payments for the first two quarters of 2020 that were due on July 15, and the third quarter estimated tax payment normally due on September 15).

The Department will automatically apply these extensions to franchise, excise and Hall income tax accounts of taxpayers with a primary address in Bradley County or Hamilton County. Penalties and interest will not be applied to returns filed and payments made on or before this extended due date. These extensions will not alter due dates or extend due dates that otherwise fall after Oct.15, 2020.

Under Tennessee law, the Commissioner is authorized to extend the deadline for filing a return whenever the IRS extends, for a group of taxpayers, a federal filing date. Under this authority, the state extension cannot exceed the federal extension.