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A warning to check on your flood-related taxes
The Gazette Opinion Staff
Dec. 19, 2009 11:19 pm
As a flood victim, I got this call from my tax people last week saying my 2008 taxes are being amended. What I found out was shocking. When I did my taxes, I reported my losses into a tax section that was supposed to be voted on by the end of the year and passed. Why it didn't get voted on and passed is beyond me.
The tax part I reported under was the casualty loss provision. I was told I could get a little money back but not even close to what I lost, which I knew coming in.
Since the state didn't pass this, I owe the state money and all people who filed under this casualty loss provision will owe the state, too. The state planned to send letters out to these filers at the beginning of 2010, but they want their money by the end of this year. If you don't pay this year, interest and late fees will apply.
I don't know if all tax companies are telling their customers this, so I suggest calling them as soon as possible.
I'm not going to play the sappy flood victim but I do consider this a bad time with the holidays approaching. All of us were affected by the flood one way or another. I think the state can find better ways to collect money then to get it from some people who lost everything.
Matt Sommers
Cedar Rapids
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