IRS Standard Deduction for Housing Can Be Taken Without Mortgage or Rent Expense
Official Form 122C-2 could be read to deprive a chapter 13 debtor of the IRS standard housing deduction when the statute permits the deduction.
Court:
Debtor May Amend a ‘13’ Plan to Modify the Treatment of a Secured Creditor’s Claim
Chicago Bankruptcy Judge David Cleary followed a decision by then-district Judge David Hamilton and “respectfully” disagreed with decisions by two predecessors on the same bankruptcy bench.
Scheduling a Home with a Low Value Didn’t Protect a ‘13’ Debtor When It Was Sold
In the Fourth Circuit, creditors are compensated when there is a ‘substantial improvement’ in a chapter 13 debtor’s financial condition.