As part of the Tennessee Department of Revenue's on-going effort to provide more electronic filing options, tax preparers can now submit Franchise and Excise Tax returns and payments electronically using software commercially-available through approved vendors.
The Tennessee Department of Revenue is now accepting franchise & excise tax returns, extensions, and quarterly estimated payments for tax year 2011 through the IRS Modernized e-File (MeF) Program. This partnership between states and the Internal Revenue Service allows tax preparers to include the state tax return and any associated payment with its electronically filed federal return. The state tax return is forwarded electronically from the Internal Revenue Service directly to the state. This process allows returns to be processed fast and accurately.
This electronic filing option is available for Corporations, Limited Liability Companies, Limited Partnerships and other entities required to file Franchise and Excise Tax returns. Forms currently accepted through the IRS Modernized e-File (MeF) Program include the Franchise and Excise Tax Return (FAE170), Application for Extension of Time to File (FAE173), and Quarterly Franchise and Excise Tax Declarations (FAE172). For more details, including a list of approved software vendors, click here.