Tax and Planning Implications for Madoff Ponzi Scheme Victims

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 IRS guidance, including items released during the week of March 16. The authors expect to update the paper on an ongoing basis as further guidance is released.

**For more advice and information on investment fraud representation, visit the Tax Resolution Services web site for a free tax relief consultation or call 866-477-7762.

More Tax Help, IRS News and Tax Relief Tips:

  1. What Safe Harbor Really Means for Ponzi Victims – IRS Estimates it will Refund Fraud Victims $17 Billion, But Not Without a Fight
  2. New IRS “Safe Harbor” Guidelines for Ponzi Victims Filing Tax Theft Loss Deductions
  3. KLOS Tax Tip #58: Tax Break for New Car Purchases – and Tax Relief for Hardworking Americans with IRS Problems
  4. Have You Filed Your Taxes? Consequences Include Increased Financial Liability and Imprisonment
  5. Is there a Double Standard for Delinquent Taxpayers and Tax Cheats That Favors Powerful Individuals?

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3 Responses to “Tax and Planning Implications for Madoff Ponzi Scheme Victims”

  1. Woman Did Not Pay $1.5M, Gets 41 Months in Prison for Tax Conspiracy | Tax Relief Tips from the Experts at Tax Resolution University Says:

    [...] conspiracies are happening on small and large scales.

  2. mark Says:

    I had a ponzi scheme loss, I understand how to use the 4684 form and the safe harbor, etc. But what form or what do I do to carry the losses forward?

    I have more to write off than I do income

  3. mark Says:

    I lost some money in a ponzi scheme. I understand I can use the 4684 theft procedure and the safe harbor method.

    But what form and how to I deduct more losses in the carry forward years?

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