AMEDORE CALLS FOR 90 DAY GRACE PERIOD FOR FLOOD VICTIMS
by George Amedore on Wednesday, September 7, 2011 at 8:19am
Local leaders urged to waive late payment penalties for property tax bills
Rotterdam, NY – Today Assemblyman George Amedore is urging local leaders and school districts in Schenectady and Montgomery Counties to establish a 90-day grace period for flood victims struggling to cope with massive property damage resulting from the recent storm. The proposal is similar to the federal government's decision to delay federal income tax collections to October 31, 2011 in order to ease further hardship on the many flood victims who have endured unimaginable losses.
“Residents of Montgomery and Schenectady Counties were amongst the hardest hit New Yorkers. Many residents are struggling to deal with property loss and are trying to put the pieces of their lives back together. For many, payment of tax bills due in the coming weeks will be challenging if not impossible. I feel it is reasonable and responsible for local leaders to waive late penalties for flood victims by establishing a 90-day grace period,” said Amedore.
Amedore noted that while the choice to apply this grace period rests on individual school districts and municipalities, he is urging local leaders to apply the grace period based on property owners who qualify for FEMA assistance; using this determination will ensure that the grace period is targeted to those who need it. The application for waiver would have to come at the property owners request and with the proper documentation; this would ameliorate a situation where a property was inadvertently left out. Using this determination will ensure that the grace period is targeted to those that need it.
In addition, Amedore is calling on Governor Cuomo and the Department of Taxation and Finance to extend the date for state income tax filings until October 31, 2011, aligning with the federal extension for individuals or businesses located in a declared disaster area.
Furthermore, the IRS is waiving the failure-to-deposit penalties for employment and
excise tax deposits that were due on or after August 26, 2011 and on or before September 12,
2011 as long as deposits are made by September 12, 2011. “These are common sense and practical steps the state can take to help our small businesses during this time,” said Amedore.
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