Webb proposes ammendment to help owners of homes with tainted drywall

photo by BoneDaddy.P7Sen. Jim Webb this week introduced an amendment to the Senate Tax Extenders bill (HR 4213) that would require the IRS to offer guidance to Chinese drywall victims filing for a casualty loss deduction on their homes and possessions. Homeowners are confused about how to file for the deduction, and the IRS has so far failed to offer clarification.

“This provision would compel the IRS to respond to the tax concerns of thousands of American families whose homes have been contaminated with Chinese drywall,” Webb said in a news release. “I have heard directly from my constituents about the emotional, physical, and financial hardship they continue to face as they struggle to maintain payments on houses that have been rendered uninhabitable, while also paying for a place to live and often dealing with corresponding health issues. This amendment is not the final solution, but it is an important step forward.”

Posted on Thursday, June 17, 2010 - 8:34pm