(WTNH)–The IRS has given homeowners dealing with crumbling foundations 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.. Previously, those deductions were only allowed through 2017.
Representative Joe Courtney and John Larson announced the news on Wednesday. More than 500 homeowners in Connecticut have foundation problems because a mineral in the concrete in their foundations caused the concrete to swell and crack.
“This is welcome news for homeowners in our districts,” the members said. “The additional three years afforded under this updated policy provides critical time for more homeowners impacted by crumbling foundations to make repairs and secure federal tax relief. Since enactment of the new tax law, we have been in regular contact with officials from the Treasury and IRS to explore ways to extend as much relief as possible to homeowners in spite of the changes made by the law. We are grateful for their attention to our concerns and the support they have provided today to homeowners struggling with the damage caused by crumbling foundations.”