Ponzi Scheme Tax Loss And The New Trump Tax Bill

On December 22, 2017, President Trump signed the “Tax Cut and Jobs Act”

The Ponzi Scheme Victim must be aware that the Loss Carry Backs have been Eliminated. With the elimination of Loss Carry Backs under the new tax bill, it is important for Ponzi Scheme losses that could be deducted in 2016, 2017 to be carefully studied.

• It is a Fact Process to Receive Cash – Tax Refunds
• Amended Returns – No Litigation Costs or Delays
• Most Secure Payor – United States Government

Refunds Can be as high as 37% return for each dollar of loss as high as 37% and 39.6% for losses discovered prior to 2018 – plus additional refunds from state income taxes.

• Note, these refunds may also be lower in value in the future due to reduced tax rates that apply under the Trump Tax Bill.
• The Trump Tax Bill provides for an Unlimited Carry Forward as opposed to prior rules with a 20-year limitation.

This is an updated PODCAST on the topic and includes Tax Cut and Jobs Act of 2017 modifications for Ponzi Scheme victims.

ADDITIONAL RESOURCES: This is an article written by Richard S. Lehman, and it provides a more lengthy description of several of the principals discussed in the Ponzi Scheme Theft Losses, originally published in BNA February 2011 Article.  TAX MANAGEMENT BNA Real Estate Journal Vol 27, No2, Feb 2011 Ponzi Scheme Tax Losses download article here.