Tennessee offers a variety of disaster tax relief programs to help residents and businesses recover from natural disasters.
The first step in getting disaster tax relief is to file an insurance claim. If you have losses that are not covered by insurance, you may be eligible for disaster assistance from the Federal Emergency Management Agency (FEMA).
If you have uninsured or underinsured losses, you may be eligible for a disaster loan from the U.S. Small Business Administration (SBA).
If you have losses due to a declared disaster, you may be able to deduct them on your federal income tax return. You may also be eligible for a tax credit for rebuilding your home or business.
The State of Tennessee also offers a variety of disaster tax relief programs. For more information, visit the Tennessee Department of Revenue website.
https://www.tn.gov/revenue/taxes/disaster-relief.html
https://www.irs.gov/newsroom/tax-relief-in-disaster-situations