GENERAL
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TAXES
IRS: Pay your federal tax liability with a credit card
IRS: Where is my federal refund?
Where is my state (Oregon) refund?
OREGON
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CLIENT SITES
Roseburg Area Chamber of Commerce
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Spring 2013 CLIENT UPDATE Newsletter: Tax legislation effects: Update-Spring2013.pdf.
Winter 2012 CLIENT UPDATE Newsletter: Year-end checklist for taxes: Update-Winter2012.pdf.
Fall 2012 CLIENT UPDATE Newsletter: Supreme Court upholds 2010 health care law: Update-Fall2012.pdf.
Summer 2012 CLIENT UPDATE Newsletter: Diversify investments by focusing on taxes: Update-Summer2012.pdf.
Spring 2012 CLIENT UPDATE Newsletter: 12 ways to improve your financial health in 2012: Update-Spring2012.pdf.
Winter 2011 CLIENT UPDATE Newsletter: Tax rules can provide relief when disaster strikes. Update-Winter2011.pdf.
Fall 2011 CLIENT UPDATE Newsletter: New bonus depreciation rules. UpdateFall2011.pdf.
Spring 2011 CLIENT UPDATE Newsletter: New tax rules offer opportunities. Are you saving enough?UpdateSpr2011.pdf.
Winter 2010 CLIENT UPDATE Newsletter: Small Business Jobs Act restores familiar tax breaks. UpdateWinter10.pdf.
Fall 2010 CLIENT UPDATE Newsletter: New 2010 tax credit available to small businesses. ClientUpdateFall10.pdf.
Summer 2010 CLIENT UPDATE: Health care reform includes current and future tax changes. ClientUpdate.pdf.
June 2013
Q: Are Ponzi-scheme losses deductible on my tax return?
A: Losses resulting from Ponzi-type investment schemes are deductible as theft losses on your tax return for the year the loss was discovered. These losses are deductible as an itemized deduction, are not subject to the 10%-of-AGI limitation, and can create or increase a net operating loss.
The IRS has provided safe harbor rules that taxpayers can use for claiming and computing the loss. The rules allow a 95% deduction of the net investment less any actual recovery and potential insurance recovery, or a 75% deduction for taxpayers suing third parties.
The taxpayer may have additional income or an additional deduction in a year subsequent to the discovery year depending on the actual amount of the loss that is eventually recovered.
If you feel you may have a deductible loss resulting from a Ponzi scheme in which you invested, please feel free to give us a call, and we can discuss in more detail.
ROSEBURG OFFICE: 358 NE Winchester P.O. Box 2350 | Roseburg, OR | 97470 | Tel: 541-673-4423 | Fax: 541-673-0287 | Email us.
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