What if I receive a late filing or late payment penalty notice from the IRS?
Call the telephone number on the notice to have the IRS abate the penalty, especially if the original due date falls within the postponement period.
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News / Tax Relief
Tennessee Residents Receive Tax Relief Following Winter Storm Fern
Following the devastating Winter Storm Fern that impacted Tennessee in January 2026, the IRS has announced tax relief measures for affected individuals and businesses. This includes an extension of tax filing deadlines, providing much-neede...
Key Insights
- **Extended Filing Deadline:** Taxpayers in designated disaster areas now have until May 22, 2026, to file their federal individual and business tax returns and make tax payments.
- **Affected Counties:** The relief applies to individuals and businesses in Cheatham, Chester, Clay, Davidson, Decatur, Dickson, Hardeman, Hardin, Henderson, Hickman, Lawrence, Lewis, Macon, Maury, McNairy, Perry, Robertson, Rutherford, Summer, Trousdale, Wayne, Williamson and Wilson counties.
- **Penalty Abatement:** Penalties on payroll and excise tax deposits due between January 22, 2026, and February 6, 2026, will be abated if deposits were made by February 6, 2026.
- **Disaster-Related Losses:** Taxpayers can claim disaster-related casualty losses on their federal income tax return for either the year the event occurred or the prior year.
In-Depth Analysis
The IRS is automatically identifying taxpayers in the covered disaster areas and applying the filing and payment relief. However, taxpayers located outside these areas but who still qualify for relief (e.g., those with tax records in impacted counties) should call the IRS Special Services number at 866-562-5227 to request assistance.
**How to Prepare:**
1. **Check Eligibility:** Confirm that your home or business is located in one of the designated counties. 2. **Note the New Deadline:** Be aware that the new filing deadline is May 22, 2026. 3. **Contact the IRS:** If you are outside the designated area but qualify, contact the IRS Special Services. 4. **Claim Casualty Losses:** Explore the option of claiming disaster-related casualty losses on your tax return.
**Who This Affects Most:**
- Individuals and families who suffered property damage or economic losses due to the winter storm.
- Businesses that experienced disruptions or financial setbacks as a result of the storm.
- Tax professionals who manage records for clients in the affected areas.
FAQ
How do I get copies of previously filed tax returns without paying a fee?
Fill out Form 4506 or 4506-T and write “Tennessee Winter Storm Fern” in bold letters at the top.
Takeaways
- Extended tax filing deadline to May 22, 2026.
- Automatic relief for those in designated disaster areas.
- Opportunity to claim disaster-related casualty losses.
- Fee waivers for copies of previously filed tax returns.
Discussion
Do you think this tax relief is sufficient to help those affected by the winter storm? Let us know in the comments!
Share this article with others who need to stay ahead of this trend!
Sources
Disclaimer
This article was compiled by Yanuki using publicly available data and trending information. The content may summarize or reference third-party sources that have not been independently verified. While we aim to provide timely and accurate insights, the information presented may be incomplete or outdated.
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