1/18/19 the Treasury Department and the IRS issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction). The new QBI deduction, created by the 2017 Tax Cuts and Jobs Act (TCJA) allows many owners of sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of...
From the Editor – Discharge and Dischargeability
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By The Honorable William Houston Brown (Retired)
Creditors justifiably relied under § 523(a)(2)(A). The Chapter 7 debtor had been hired to build a vacation home, and the creditors justifiably relied on the builder’s false representation that he would work exclusively on their vacation home, devoting all of particular payments to winterize the home. The bankruptcy court’s holding that a portion of the construction payments was excepted from discharge was affirmed. Falcone v. Ragonese (In re Ragonese), 505 B.R. 605 (BAP 1st Cir. 2014).
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The Honorable William Houston Brown . . .
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