Quick blurb on an article The Herald Tribune did on possible tax benefits for those who suffered as a result of Chinese drywall installed in their homes
The Internal Revenue Service says that victims of Chinese drywall might qualify for a casualty loss on their taxes because of the corrosion on pipes, air-conditioning and electrical appliances caused by gases released from the materials.
Section 165 of the IRS Code allows a casualty loss deduction in some circumstances, wrote George J. Blaine, the IRS’s associate chief counsel, in response to a letter from three U.S. senators, including Florida Democrat Bill Nelson, and a Virginia congressman.
Casualty losses are those suffered as a result of an unexpected event such as a fire, storm or theft.
If this proves true, it would be a great assist to those who have faced hardship because of this faulty wallboard being brought into the country.
UPDATE February 2026: Following recent landmark verdicts and the federal approval of MDL 3171, the Berniard Law Firm is now providing nationwide representation for Uber and Lyft sexual assault survivors. If you were harmed during a rideshare trip, click here to learn about your rights under the new 2026 legal standards.