Tax 12 months 2023: Does Your State Have an Prolonged Deadline?

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By smarttaxservice

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Navigating tax obligations whereas dealing with unexpected challenges posed by a pure catastrophe could make for particularly troublesome instances. When you had been a sufferer of a pure catastrophe in an space designated as a federal catastrophe by the Federal Emergency Administration Company (FEMA) the IRS has doubtless prolonged varied federal tax deadlines and different reduction to you. 

If these storms impacted you, we wish you to know TurboTax is right here for you, and we need to preserve you updated with essential tax reduction data that will enable you to on this time of want. Be aware: extension dates and federal and state necessities are depending on the state and county the place you reside or have a enterprise. 

Take a look at our interactive map, under, that includes sources from the IRS.

Tennessee

Key Takeaways: 

  • Federal tax and funds deadlines are prolonged to June 17, 2024. 
  • To qualify, you could have an tackle of document positioned within the catastrophe space.

Federal Tax Reduction 

The IRS has supplied tax reduction for people and companies in Davidson, Dickson, Montgomery, and Sumner counties of Tennessee affected by extreme storms and tornadoes that started on December 9, 2023. These taxpayers now have till June 17, 2024 to file varied federal particular person and enterprise tax returns and make tax funds. This is applicable to particular person earnings tax returns and funds due on April 15, 2024. When you want an extension past June 17, on your 2023 federal earnings tax return it is best to request it electronically by April 15 to have till October 15, 2024, to file, although funds are nonetheless due on June 17, 2024. 

The June 17, 2024 deadline additionally applies to: 

  • 2023 contributions to IRAs and well being financial savings accounts for eligible taxpayers.
  • Quarterly estimated earnings tax funds usually due on Jan. 16 and April 15, 2024.
  • Quarterly payroll and excise tax returns usually due on Jan. 31 and April 30, 2024.
  • Calendar-year partnership and S company returns usually due on March 15, 2024.
  • Calendar-year company and fiduciary returns and funds usually due on April 15, 2024.
  • Calendar-year tax-exempt group returns usually due on Could 15, 2024.

State Tax Reduction 

Whereas the state of Tennessee doesn’t have a person earnings tax the Tennessee Division of Income has not introduced any extra reduction efforts at the moment. 

What do I must do to assert the federal tax extension? 

The IRS robotically gives submitting and penalty reduction for Federal tax returns to any taxpayer with an IRS tackle of document positioned within the catastrophe space. Taxpayers don’t must contact the IRS to get this reduction. Nonetheless, if an affected taxpayer receives a late submitting or late cost penalty discover from the IRS that has an authentic or prolonged submitting, cost or deposit due date falling throughout the postponement interval, the taxpayer ought to name the quantity on the discover to have the penalty abated.

In case you are not a sufferer, however you’re seeking to assist these in want, this can be a nice alternative to donate or volunteer your time to reliable 501(c)(3) not-for-profit charities who’re offering reduction efforts for storm victims.

Verify again with the TurboTax weblog for extra updates on catastrophe reduction.

The tax reduction is a part of a coordinated federal response to the injury brought on by the tough storms and is predicated on native injury assessments by FEMA. For data on catastrophe restoration, go to disasterassistance.gov.

Katharina Reekmans
Katharina Reekmans

Katharina Reekmans is an Enrolled Agent and a contributor to the TurboTax Weblog workforce. Katharina has years of expertise in tax preparation and illustration earlier than the IRS. Her passions encompass monetary literary and tax legislation interpretation. She has a robust dedication to utilizing all sources and information to finest serve the curiosity of shoppers. Katharina has labored as a senior tax accountant, operations supervisor, and controller. Katharina prides herself on unraveling tax legal guidelines in order that the common particular person can perceive them. Extra from Katharina Reekmans

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