Posts Tagged ‘fraud recovery’

New IRS “Safe Harbor” Guidelines for Ponzi Victims Filing Tax Theft Loss Deductions

Thursday, March 19th, 2009

While Benrie Madoff was jailed last week after pleading guilty to charges surrounding his $65 billion Ponzi scheme, the IRS is busy issuing new guidelines for filing tax theft loss deductions.
Internal Revenue Service Commissioner Doug Shulman reached out to thousands of Ponzi victims to provide “safe harbor” procedures for taxpayers who sustained investment losses discovered to be criminally fraudulent.
In addition to simplifying and clarifying the filing process for those seeking
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Posted in Tax news and tips, Working with the IRS | 2 Comments »

What Fraud Victims Need to Know About Claiming Theft Loss Deductions under Section 165: Be Prepared to be Audited

Friday, January 30th, 2009

I was recently asked to write an article for CPEthink.com, an organization dedicated to providing industry-leading online Continuing Professional Education (CPE) and Professional Development courses and exams for CPAs, licensed professionals, general practitioners, and individuals.
My article discussed how victims of investment fraud are turning to Uncle Sam for relief  - but they should be ready to face increased IRS scrutiny. I’ve blogged before about how Section 165 of the IRS
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Posted in Tax news and tips | No Comments »