In the wake of devastating severe storms, straight-line winds, tornadoes, and flooding that struck Tennessee starting April 2, 2025, the Internal Revenue Service (IRS) has announced significant extensions to federal tax filing and payment deadlines for all residents and businesses in the state. This move provides much-needed relief to those grappling with the aftermath of the natural disasters, extending deadlines to November 3, 2025, for returns and payments originally due between April 2 and November 3, 2025.
The extensions cover a wide range of tax obligations, including individual income tax returns and payments, 2024 contributions to IRAs and health savings accounts (HSAs), quarterly estimated tax payments, and quarterly payroll and excise tax returns. Additionally, calendar-year corporation and fiduciary returns and payments, as well as calendar-year tax-exempt organization returns, are included in this relief effort.
Echoing the federal government's response, the Tennessee Department of Revenue is offering similar extensions for state taxes, such as franchise and excise taxes. Taxpayers affected by the storms can request an extension by contacting the department directly, providing details of their situation to qualify for the relief.
Miller & McPhail CPA, a leading accounting firm in Chattanooga, has stepped forward to assist clients in navigating these extended deadlines. The firm emphasizes the importance of using this additional time for strategic tax planning and encourages individuals and businesses to seek professional advice to ensure compliance with both federal and state tax obligations. For more information, affected parties can visit https://www.millerandmcphailcpa.com.
This extension is a critical lifeline for Tennessee residents and businesses, offering them the flexibility to recover from the storms' impacts without the added pressure of imminent tax deadlines. It underscores the government's recognition of the challenges faced by those in disaster-stricken areas and its commitment to providing practical support during difficult times.
