Ponzi Victims: The Sky Is Falling Under Trump’s New Tax Plan

This article is intended to sound the alarm for everyone victims of Ponzi-like-schemes, as their sky is falling. “Theft Tax Loss” provisions of the inner Revenue Code (“IRC”). While traders are worked up about many procedures of Trump’s Tax Act and its own lower rates, as it pertains to victims of Ponzi-like-schemes … Chicken Little is screaming “the sky is dropping, and the finish is in sight!

75% of the web loss may be deducted, where a qualified investor is seeking or intends to pursue any potential third-party activities for recovery. The benefit of these tools is that the victim can apply for taxes benefits now under the safe harbor procedures and still take part in any litigation and/or course actions tries at recovery by recognizing a smaller amount in your refunds. The levels of recovery and future taxes will be adjusted when the litigation is finally solved, and the entire amount of problems/recovery are completely known. 1,000,000 loss in a Ponzi-like-scheme.

1,000,000 in a Ponzi-like-scheme that qualifies for theft taxes reduction under IRC §165(c.) (2) and filed using the safe harbor procedures of Rev. Rul. 2009-9 and Rev. Proc. Don’t let it be said that Chicken Little did not warn you, for those victims of Ponzi-like plans, the theft taxes loss deduction and the sky are falling with the processing of your 2017 Tax Return. Author is Attorney Kevin G. Diamond, CPA who has discussed the theft tax loss since 2007 and has a national tax practice representing victims of Ponzi plans.

He is a member of the U.S. See IRS Rev. Rul. 2009-9 and IRS Rec. The full case is U.S. V. Nordlicht et al, U.S. The situation is SEC v. Robert Shapiro, Woodbridge Band of Companies et al., U. S. District Ct., Southern Dist. The case is U.S. Rev. Rul. 2009-9, 2009 I.R.B.

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