Journal Inquirer: IRS extends foundation fix deductions
By: Eric Bedner
The IRS has determined that homeowners who make repairs to their crumbling foundations within the next three years can amend their 2017 federal tax filings to deduct the cost.
Under the updated guidance from the IRS, which U.S. Reps. John B. Larson, 1st-District; Joseph D. Courtney, 2nd-District; and Rihard Neal of Massachusetts announced Wednesday, homeowners will have through the end of 2020 to make qualified repairs to their homes and until April 2021 to claim those repairs on amended 2017 federal tax return.
"This is welcome news for homeowners in our districts," the congressman said in a joint statement. "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."