Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 1491, the Disaster Related Extension of Deadlines Act, authored and introduced by my friend, the gentleman from North Carolina (Mr. Murphy). I thank the chairman of the Ways and Means Committee for doing an excellent job in summarizing not just the issue but the solution with this bipartisan legislation, for it is this type of legislation that would ensure that tax deadlines remain aligned in disaster zones and that those who have survived natural disasters are not penalized by confusing collection notices or a shortened tax lookback period. Now, currently, taxpayers have a 3-year lookback period after a filing deadline to claim a refund or missed credits. However, when the IRS extends filing deadlines for those affected by natural disasters, the deadline for the lookback period is not extended. This leads taxpayers, as you can imagine, Mr. Speaker, in disaster areas to lose out on money that they are owed because their lookback period is shorter than expected. This bill would fix that, by aligning the lookback period with the postponed tax deadline for disaster zones. Additionally, this bill solves the problem of misaligned deadlines and confusing collection notices after a natural disaster.…”