The Receiver is not in a position to provide tax advice and suggests that investors consult with their tax professionals for more information on tax-related issues which may arise from this case. There is public information that may be helpful to investors. In March 2009, the IRS issued two guidance items to assist taxpayers who are victims of losses from Ponzi-type investment schemes. The first item is a ruling (Rev. Rul. 2009-9) that clarifies the income tax law governing the treatment of losses in such schemes. The second is a procedure (Rev. Proc. 2009-20) that provides a safe-harbor method of computing and reporting the losses. An article is also available for investor information, however, it is not the work of the Receiver or his team and is provided as it may possibly be informative. (View Article)
The Receiver recommends that you consult with a tax professional regarding the above revenue ruling and procedure.
Other related articles which may be of interest to you are:
Herald Tribune Article, Published 3-18-09 –
IRS Plans Some Scam Relief
Senate Finance Testimony on Ponzi Schemes –
Tax Issues Related to Ponzi Schemes and an Update on Offshore Tax Evasion Legislation
Receiver’s Verified Unopposed Motion to Approve Private Sale of Real Property – 3914 North Ridge Avenue, Tampa, FloridaApril 1, 2021 - 2:40 PM
Receiver’s Fourth Quarterly Status ReportFebruary 15, 2021 - 4:34 PM
Court Grants Receiver’s Motion to Approve Sale of Real Property – 2111 W. St. Louis Street, TampaFebruary 4, 2021 - 4:05 PM
