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IRS addresses theft loss deductions for IRA and charitable trust investments in Ponzi schemes
- Loeb & Loeb LLP
- -
- USA
- -
- December 1 2010
On September 24, 2010, the IRS released a letter (the "Letter") addressing the availability of tax deductions for Ponzi scheme losses relating to assets held in individual retirement accounts ("IRAs") or similar tax-deferred investment vehicles and assets held by charitable trusts
