Gardner Sends Letter Urging Tax Deadline Extension for Flood Victims
WASHINGTON, D.C.– Rep. Cory Gardner (CO-4) sent a letter today to U.S. Treasury Secretary Jacob Lew and Federal Emergency Management Agency (FEMA) Administrator Craig Fugate urging them to grant flood-affected communities an automatic extension for filing federal taxes.
The letter reads, in part:
“This past September, Colorado experienced a major flood event which took the lives of eight Coloradans, destroyed 2,000 homes and damaged 17,000 others. Many throughout the state are still recovering and while much progress has been made, there is still more work to be done. I write today to request an automatic extension for tax filings for individuals and businesses affected by the flood.
“The President declared a natural disaster under the Stafford Act for 14 counties throughout the state. Accordingly, the people in these areas can apply their 2013 flood incurred losses to their 2013 or 2012 tax returns. However, because of the significant damage, it is taking property owners more time to complete assessments to accurately file their tax returns. In order to provide the people of Colorado with more flexibility and to maximize relief, it is imperative that your agency consider granting an automatic six-month filing extension for people in these 14 counties.
“Right now, individuals and businesses should be focused on repairing homes and businesses. If an automatic extension is granted, it will provide much needed certainty because people would be allowed to complete their tax filings accurately so that they can receive the maximum deduction on returns. If individuals or businesses imprecisely file property loss claims, they would incur a lesser refund, and new damage found from the 2013 flood would have to be reported in the year of discovery. This would greatly delay needed relief and slow recovery efforts.
"With the April 15th deadline quickly approaching, I ask that you consider an automatic six-month extension immediately.”
To read the full letter, click here.