You know  you’ve gotten yourself in deep trouble when Wikipedia, the wildly popular online encyclopedia, has an article about you titled “Spinka Financial Controversy“.   What can I say?  Tax evasion and tax fraud, on a small scale or grand scale, is wrong and the IRS will catch you.  For those of you who are victims of fraudulent investment schemes, there is some hope for recovery.  Under the Internal Revenue Code 165 you
[Read More]

Investment fraud, also known as a “Ponzi” scheme, is prevelant both on a small scale or large scale (two words: Bernie Madoff).  Tax Resolution Services offers help for those who’ve been scammed in these white collar crimes.  A Certified Tax Resolution Specialist can tell you if you are eligible to recover 30% to 40% of your losses through investment fraud representation under the Internal Revenue Code section 165.  Recoup your losses with professional investment fraud representation and enjoy the article
[Read More]

If you’re a victim of a “Ponzi”-type investment scam then you know that dealing with investment fraud is no fun.  Did you know that you may be able to recoup 30% to 40% of your losses  under Internal Revenue Code Section 165?  We call it “Section 165 Representation” or Investment Fraud Representation.  Our professional tax team can help you amend prior years tax returns sometimes resulting in a reduction of taxes paid in those
[Read More]

The Internal Revenue Service has begun sending out refund checks to victims of Bernie Madoff’s scheme who’ve taken advantage of a special IRS rule for Ponzi victims. The IRS is now repaying investors who’ve paid taxes on money they thought they made on investments with Madoff’s firm.
I’ve blogged about how Ponzi victims can get expert tax help for maximizing their tax benefits to help them regain their financial welfare. Taxpayers
[Read More]

Bernard Madoff  was sentenced to 150 years in prison today. According to MSNBC, the disgraced investor received the maximum sentence for his massive Ponzi scheme and apologized to victims for the multibillion-dollar fraud scheme that the judge called “extraordinarily evil.”  An  investigation has found that in reality, Madoff never made any investments, instead using the money from new investors to pay returns to existing clients — and to finance a
[Read More]

Danny Pang, and Orange County money manager, was  arrested on suspicion of evading currency reporting laws. According to the Los Angeles Times, Pang is accused of bilking investors of hundreds of millions of dollars and has allegedly sought to hide more than $300,000 in cash from the government.
On Monday, Pang’s assets and those of his Irvine company, Private Equity Management Group Inc., were frozen at the request of the
[Read More]

I recently blogged about the new IRS Safe Harbor guidelines for Ponzi scheme victims.
CCH has issued a white paper addressing the various tax and planning implications that arise as a result of investment in the Madoff Ponzi scheme or other fraudulent schemes. The paper, Madoff and Other Fraudulent Schemes: Tax and Planning Implications, analyzes the tax issues and bankruptcy implications arising from the schemes and provides an overview of related
[Read More]

Under the NEW IRC Section 165 Safe Harbor Rules the IRS estimates it will refund victims of the Bernard Madoff’s massive ponzi scheme around $17 billion!!
The Safe Harbor provisions are crucial to obtaining relief for victims of investment stock fraud because it converts what would ordinarily be a capital loss (which is offset against capital gains and any unused capital loss is then limited to a deduction of only $3,000
[Read More]

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
[Read More]

Today Bernie Madoff’s client list was made public revealing even more high-profile individuals defrauded by the $50 billion Ponzi scheme. Among the names disclosed today are John Malkovich, Barbara Bach (Ringo Starr’s wife), Kevin Bacon and Dodgers great Sandy Koufax.
What these fraud victims need to know is that they can recoup 30-40% of their losses if they take advantage of Internal Revenue Code Section 165. So if you’ve paid taxes
[Read More]