Tennessee’s Disaster Tax Relief Programs: What You Need to Know
In the wake of a disaster, the last thing you want to worry about is your taxes. However, the IRS does offer some relief for those who have been affected by major disasters. Here’s what you need to know about Tennessee’s disaster tax relief programs.
If you’ve been affected by a major disaster, you may be eligible for a variety of tax relief measures. These include:
• An extension of the filing deadline for your tax return
• A waiver of late-filing and late-payment penalties
• An extension of the time to make certain tax payments
• An increase in the amount you can deduct for personal property losses
To qualify for disaster tax relief, you must be located in a federally declared disaster area. You can check the IRS website to see if your area has been designated.
If you’re eligible for disaster tax relief, the IRS will automatically provide it. You don’t need to apply or contact the IRS to receive the benefits.
However, if you have questions about your eligibility or the tax relief measures available to you, you can contact the IRS Disaster Assistance Hotline at 1-866-562-5227.
Sources:
https://www.irs.gov/newsroom/tax-relief-for-victims-of-severe-storms-and-flooding-in-tennessee