TSCPA News

Tennessee Department of Revenue Extends Franchise and Excise Tax Deadline for December Storm Victims

December 28, 2021

The Tennessee Department of Revenue recently issued Important Notice #21-19, extending the franchise and excise tax filing and payment deadlines to May 16, 2022, for those affected by the December tornadoes, storms and flooding. This is consistent with the IRS’s recent extension of certain federal deadlines to May 16, 2022, for those located in a federally designated disaster area due to the December 2021 severe weather.

These extensions will be granted upon request and are available to all taxpayers located in any disaster area designated by the Federal Emergency Management Agency (FEMA). Currently this includes taxpayers located in Cheatham, Decatur, Dickson, Dyer, Gibson, Lake, Obion, Stewart and Weakley counties. Taxpayers located in areas later designated as disaster areas will also be eligible for the same filing and payment extensions.

This tax relief postpones the franchise and excise tax filing and payment deadlines that occur on and after Dec. 10, 2021, and before May 16, 2022. Affected taxpayers will have until May 16, 2022, to file returns and make any payments (including quarterly estimated payments) originally due during this period.

The Department will apply these extensions to franchise and excise accounts of taxpayers who request an extension and have an address in the designated disaster area. 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 that occur after May 16, 2022.

If an affected taxpayer receives a late filing or late payment penalty notice from the Department, the taxpayer should contact the Department.

Extensions may be granted if taxpayers’ returns are prepared by a practitioner located in the designated disaster area who is unable to file returns or make payments for clients due to the severe weather. Affected tax professionals should contact the Department.

For more information, including how to request an extension, see Important Notice #21-19.