Tag Archives: Ponzi
Lessons from Madoff’s Ponzi: 5 Crucial Messages for Investors
Bernie Madoff’s Massive Ponzi Scheme: Bernie Madoff, a prominent figure in the international tax field, orchestrated a fraudulent investment scheme that deceived hundreds, if not thousands, of investors. Madoff’s elaborate scam led people to believe they were earning substantial profits, but in reality, their money was being siphoned off, resulting in devastating losses. The… Read More »
REPORT No. 3: The Safe Harbor
The Revenue Ruling 2009-9 and IRS Safe Harbor (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 IRS clarified much of the previously unsettled law in this area. The Rev. Proc. 2009-20 applies to losses for which the… Read More »
