Many investors have asked the Receiver about the amounts and timing of tax deductions for the losses they have incurred. We cannot advise them in this area, because we are not accountants and because every taxpayer’s situation is different.
However, in an effort to be of some assistance, we have set forth below some fairly recent guidance on this general topic from the Internal Revenue Service that may be of help to some investors and their tax professionals. We strongly encourage investors to obtain skilled accounting assistance in this regard, because the tax loss recovery amounts for investors may exceed the amounts we are eventually able to recover and distribute to them.
Below are two links to different but related “articles” by the IRS regarding tax information in the context of an illegal investment scheme.
printer friendly version: PDF File IRS 2009-14IRB ar11.pdf
printer friendly version: PDF File IRS 2009-14IRB ar07.pdf