Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today in support of H.R. 1491, the Disaster Related Extension of Deadlines Act, introduced by my Ways and Means colleagues Representatives Murphy and Panetta. Both of their home States, North Carolina and California respectively, are no strangers to the toll of natural disasters. This legislation corrects a discrepancy that can deny Americans affected by natural disaster their rightful tax refund. Often, the IRS postpones the filing and payment deadline for taxpayers impacted by a natural disaster. Understandably, some taxpayers living in a disaster area choose to file their taxes and wait to pay the tax bill at a later date, freeing up resources to instead help replace the items that they have lost. For the average taxpayer who requests a filing extension, the deadline to claim a tax refund or credit for that tax year is also extended; not so for the victims of natural disasters. They do not receive the same amount of additional time to claim a tax credit or refund as taxpayers who request filing extensions. This situation is fundamentally unfair. It potentially denies Americans affected by a natural disaster their rightful tax refund that they would have otherwise received had they not been struck by a natural disaster and simply requested a filing extension. This bill provides a straightforward solution that would fix this issue.…”