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Use the IRS Safe-Harbor Tax Relief for Ponzi Scheme Losses

December 20, 2020

A good Ponzi scheme can be hard to detect. For example, the schemer may pay 10% interest when the going rate is 5%.

But the Ponzi swindler pays the victim’s 10 percent with money collected from other victims.

It’s a house of cards that ultimately fails as Bernie Madoff can attest. Victims can lose their entire investments.

Why is the Tax Reduction Letter
interested in Ponzi schemes?

Because we want you to know that if you have become the victim of a Ponzi scheme, there is some good news.

  • Thanks to lawmakers, the IRS gives you “favored victim” status. This includes a safe-harbor election that grants you an upfront deduction of up to 95%–in the world of theft loss deductions, this is huge.
  • What’s more, it’s possible that you can get net operating-loss treatment, plus a lot more.

Want to learn what you can do if you ever fall into a Ponzi trap?

Read the full article…

“Use the IRS Safe-Harbor Tax Relief
for Ponzi Scheme Losses”

Here’s just some of the important information
we’ve got waiting for you

  • What exactly the IRS safe-harbor provision can do for you
  • How to calculate the Ponzi scheme theft-loss deduction
  • How to claim the deduction on your tax return
  • How you might qualify for the net operation-loss carryback and carryforward deductions
  • And much more

You’ll get all the details when you…

Read the full article…

“Use the IRS Safe-Harbor Tax Relief
for Ponzi Scheme Losses”

Filed Under: Featured Articles, Filing tips, Investments, Losses, Records, Tax Planning

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