Posts Tagged ‘safe harbor guidelines’

Orange County Money Manager Accused of Defrauding Investors Out of Millions of Dollars

Wednesday, April 29th, 2009

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
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Tags: danny pang, investment fraud, investment fraud representation, Offer in Compromise, orange county tax resolution, ponzi scheme, safe harbor guidelines, tax evasion, tax expert, tax help, tax resolution, tax resolution expert, tax resolution services, theft loss deductions
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California Will Not Allow Madoff Victims to Claim Tax Refunds for Income Paid on “Phantom Profits”

Monday, April 27th, 2009

I’ve blogged before about the investment fraud loss and deductibility rules outlined in Internal Revenue Code 165, and how the tax code can help victims of investment fraud recoup their losses. Now Madoff victims are hoping to get refunds on past state taxes paid on income from Madoff that they might never have received.
The Los Angeles Times reports that hundreds of Californians, many of them elderly and nearly broke, are
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Tags: Bernard Madoff, Bernie Madoff, california tax refunds, investment fraud victims, los angeles times, Michael Rozbruch, ponzi scheme, safe harbor guidelines, tax expert, tax resolution, tax resolution services, theft loss deductions
Posted in Tax news and tips | No Comments »