The American Institute of CPAs has written to the leaders of Congress’s tax-writing committees asking them to expand the replacement period for property loss for taxpayers affected by Hurricane Sandy.
In letters to Senate Finance Committee chairman Max Baucus, D-Mont., and ranking member Orrin Hatch, R-Utah, and House Ways and Means Committee chairman Dave Camp, R-Mich., and ranking member Sander Levin, D-Mich., AICPA Tax Executive Committee chair Jeffrey A. Porter encouraged lawmakers to provide additional relief to Sandy victims.
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