An updated guidance, issued Wednesday, from the Internal Revenue Service extends the period of time that homeowners have to claim crumbling foundation related repairs on their federal taxes. Homeowners will now have through the end of 2020 to make qualified repairs to their home and until April 2021 to claim those repairs on an amended 2017 federal tax return.
Senator Tim Larson (D-East Hartford) released the following statement:
“The IRS’ decision to extend the period of time that homeowners have to claim crumbling foundation related repairs on their federal taxes is most welcome news in the 3rd Senatorial District, where homeowners are grappling with the unimaginable situation of their own homes collapsing beneath them. This will make a world of difference for residents who are stuck in this situation. I applaud our U.S. Representatives John Larson and Joe Courtney for their leadership and for continuing to make this a priority for the residents of Connecticut. Having worked with both representatives on this key issue, I truly appreciate their efforts.”