Under New Tax Law, Time Is Running Out For Ponzi Victims
By Kevin DiamondFebruary 1, 2018, 12:47 PM EST
Law360, New York (February 1, 2018, 12:47 PM EST) -- Attorneys representing victims of Ponzi schemes, look out: The sky may be falling. The Tax Cuts and Jobs Act, P.L. 115-97, eliminates the “theft tax loss” provisions of the Internal Revenue Code. Whether you are a litigation attorney or a tax preparer for these victims, time is of the essence.
While the Trump administration and investors are excited about many provisions of the TCJA, when it comes to victims of Ponzi-like schemes, the news is not so good. The time to act is now, before this important tax...