The Internal Revenue Service said that it would permit taxpayers with defective drywall in their homes to deduct the repair and replacement of damaged appliances. This tax break is the first significant response from the federal government to provide financial help to the thousands of homeowners nationwide struggling with the defective drywall. While this ruling [...]
A federal court judge in Virginia has ruled that a Virginia homeowner’s insurance policy did not cover damages caused by Chinese drywall. Judge Robert G. Doumar of the U.S. District Court in Norfolk found that the policy excluded damages caused by latent defects, faulty materials, corrosion and pollution. This is the first decision in many [...]