Donalds addresses concerns regarding IRS Qualified Loss deduction for Ian damage
Congressman Byron Donalds (R-FL) on Tuesday issued a statement to address constituents’ concerns regarding the IRS Qualified Disaster Losses “dilemma” impacting Southwest Floridians who suffered financially as a result of Hurricane Ian.
The statement reads:
“While we continue recovery efforts for the victims of Hurricane Ian and make progress rebuilding the affected communities, there is still much work to do. At the top of my priority list is to make sure the citizens of Southwest Florida receive the same tax relief from the IRS that the victims of past hurricanes did. Unfortunately, while then-Speaker Pelosi and Congressional Democrats focused on passing trillions of liberal wish list proposals that heightened inflation, crucial legislative items like the wavier for Hurricane Ian’s qualified federal disaster languished at the expense of thousands in Southwest Florida.
“Under Republican leadership, my office is working steadfastly to correct this predicament and retroactively extend disaster tax relief for victims of the devastating Category 5 Hurricane that ravished our community in September. The people of Southwest Florida should not face a double standard of assistance due to the federal government’s incompetence. I will work with my colleagues in Florida to ensure Southwest Floridians receive the tax relief they desperately need.”
According to Mary Feichthaler, a CPA whose office is in Cape Coral, taxpayers have the potential to receive significant income tax relief by claiming a casualty loss on their 2022 income tax returns if Congress designates Hurricane Ian to be a “Qualified Casualty Loss” as it previously had Hurricane Irma.
“The rules involving deductions relating to unreimbursed property damage caused by a casualty loss hinge on what type of casualty is incurred. The last major hurricane to impact our area was Hurricane Irma, which was given special designation by Congress as a ‘Qualified Casualty Loss.’ As a result, taxpayers adversely impacted by Hurricane Irma were able to maximize their loss deductions,” she wrote in a guest column published by The Breeze on Feb. 17.
“Unfortunately, Hurricane Ian has NOT yet been designated as a qualified disaster by Congress,” she said, adding the Congressional designation could result in thousands, possibly tens of thousands, of dollars,” to affected homeowners who file tax returns.
She urged all Lee County homeowners to contact elected officials to encourage recovery by designating Hurricane Ian a Qualified Disaster:
Congressman Byron Donalds: (202) 225-2536
Senator Rick Scott: (202) 224-5274 or
Senator Marco Rubio: (202) 224-3041
Each also has a form on their official websites through which constituents can send emails.