Posts Tagged ‘theft loss deduction’

Ask the Tax Resolution Expert: Victim of Investment Fraud Needs Advice on Filing 2008 Taxes

Tuesday, March 3rd, 2009

Today’s question comes from Doug P, an investment fraud victim interested in recovering his losses when he files his 2008 taxes…
In Dec. of 2007, I gave an independent broker some money to invest for me. About $30,000. Three weeks later  (first part of Jan 2008 ) he sends me a check for the amount I gave him and in the letter told me this money was never invested.
UHHHMMMMM. Ponzi gone
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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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