Monthly Archives: February 2023
Many may remember in 2008 the chaos at the I.R.S. about how to deal with the Madoff Ponzi
In 2008, the Internal Revenue Service was not ready to solve the Madoff disaster. However, they quickly did the best that they could and published two documents to at least help the victims of this scheme. The two documents provided some relief to injured parties. These two documents were sorely needed and well done…. Read More »
The Safe Harbor is very meaningful for direct Ponzi Scheme victims – like those involved with the FTX, SBF and Alameda Research fraud.
The Ponzi Scheme is a theft loss, and is tax deductible in the year the loss is discovered. It is important to note, recently (January 24, 2023) the IRS updated questions on common digital assets that include: Convertible virtual currency and cryptocurrency, Stablecoins, and Non-fungible tokens (NFTs). All taxpayers must answer Yes or No… Read More »
