#406 Scams, Loses, Theft and More - Must Know Tax Information
Main Street Business
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Taking a Loss in the Event of a Ponzi Scheme
The IRS has specific revenue rulings and code on this situation. The safe harbor though on this, that allows you to actually take a loss here,. If it's criminal and they are charged criminally, someone is charged criminally, you're automatically in the game. What Bernie Madoff did, is he created a scheme. There was a Ponzi scheme.
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