In this Report #2, we dive deeper into the phrase “reasonable prospect of recovery” and its importance in determining the timing of theft loss deductions. Learn about the origin of this phrase and how it affects the real economics of …
The Top Three Factors to Consider When Claiming a Theft Loss Deduction Read more »
The FTX fraud was a Ponzi scheme and losses from Ponzi schemes are acknowledged by the I.R.S to be “theft losses”. They are deductible from a taxpayer’s ordinary income. The theft loss tax deduction is an extremely valuable tax deduction …
For Those Who Lost Money: Everyone that paid taxes on nonexistent profits will recoup those taxes from the I.R.S. Reports 1-3 below will explain in detail. Report No. 1: FTX and Sam Bankman-Fried Fraud The following is Report No. 1 …
BOCA RATON, FL – Investors still stinging from the high-profile collapse of cryptocurrency trading giant FTX may be able to get back some of their tax dollars paid on lost investments. FTX, which made crypto trading accessible to everyday investors …
FTX Crypto Fraud Victims Could Qualify For Tax Refunds Read more »
By Richard S. Lehman, download this article as a pdf here. Download IRS Revenue Ruling 2009-9 Download IRS Revenue Procedure 2009-20 In 2009, two important documents were issued by the IRS regarding the taxation of Ponzi schemes. In the Rev. Rul. 2009-9, …
The Revenue Ruling 2009-9 and IRS Safe Harbor (Revenue Procedure 2009-20) Read more »
REPORT No. 2: FTX and Sam Bankman-Fried Fraud By Richard S. Lehman, United States tax Attorney Introduction Report No. 1 introduced the reader to a key phrase. The phrase is a reasonable prospect of recovery. This phrase determines whether a …
REPORT 2 in the FTX, Sam Bankman-Fried, Alameda Research, Fraud Read more »
The following is Report No. 1 in what is intended to be a series of reports focusing on the tax benefits available as a result of the FTX fraud. These Reports are not intended to be and can not serve as legal …
Under the Trump Tax Cut and Jobs Act, there no longer is the ability to carry back losses to prior years to obtain deductions and tax refunds. There no longer is a “loss carryback deduction”. Loss carry forwards are allowed …
PODCAST: Richard S. Lehman discussing Claw-Backs at recent Stafford Publishing live webinar. Section 1341 “Claim of Right” Refunds Any lawyer involved in a clawback settlement agreement must, where possible, in the settlement agreement, distinguish between and earmark the two types …
PODCAST: Calculating Tax Benefits, Avoiding Double Taxation on Repayments and Claw-Backs Read more »
New ebooks available around the world from amazon and Richard S. Lehman, Esq, United States Tax Attorney