As announced by the IRS back in May, second quarter (Q2) estimated tax payments for individuals, businesses, and trusts with addresses in the previously designated affected disaster areas (from the March 25 storm) have been extended. Typically due on June 15, these payments are now due August 2, 2021.
The designated counties that qualify for tax relief: Campbell, Cannon, Cheatham, Claiborne, Clay, Davidson, Decatur, Fentress, Grainger, Hardeman, Henderson, Hickman, Jackson, Madison, Maury, McNairy, Moore, Overton, Scott, Smith, Wayne, Williamson, and Wilson counties.
“Affected taxpayer” means any individual whose principal residence is in the covered disaster area or any business entity or sole proprietor whose principal place of business is in the covered disaster area.
If you have any questions about your second quarter payments, contact the Crosslin tax team at (615) 320-5500. We are here to help!