WASHINGTON, D.C. – October 1, 2013 – (RealEstateRama) — Colorado U.S. Senator Michael Bennet today welcomed the Internal Revenue Service’s (IRS) announcement that it is waiving certain low-income housing limitations for victims of Colorado’s recent floods. The decision will allow owners and operators of low-income housing facilities to provide temporary emergency housing to Colorado families who have been displaced by the recent disaster.
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“More than two weeks after the flooding began, thousands of Colorado families are still in desperate need of housing while they make repairs and rebuild their homes,” Bennet said. “This decision by the IRS will give these families more options for a temporary place to stay while they work to get back on their feet.”
Because of the widespread devastation to housing caused by storms and flooding, the IRS will temporarily suspend certain limitations for qualified low-income housing projects that house people displaced by the storms and flooding. The action will expand the availability of housing for disaster victims and their families. More details on the announcement can be found at www.irs.gov.
The IRS recently announced it would postpone certain tax filing and payment deadlines in the presidentially declared disaster area.
