Send a Message
to Theft Loss Expert

Comments

25

Joined

Sep 30, 2009

Theft Loss Expert Profile

Recent Posts

American Business Financial Services

Chapter 7 trustee sues American Business 11:39 PM Et

I admit to not having kept up with this case. If there is credible basis for arguing ABFS had a "Ponzi-like " nature to it; there may be a new opportunity to apply Section 165 Theft Deduction against income. This is due to a recent IRS procedural amendment. Apparently it was disclosed in the prospectus (don’t know for sure) that proceeds from the sale of new notes would pay the returns for older, maturing notes; disclosing this in a prospectus would likely steer the IRS away from viewing that practice as fraudulent. However, there are people out there who are more up-to-date; if they would like to provide some feedback, it could be helpful. My premise is that ABFS losses may be deductible for the year Santilli died; if correct, everyone would need to scramble to make a tax amendment. Just an FYI.  (Feb 9, 2012 | post #34)

American Business Financial Services

Chapter 7 trustee sues American Business 11:39 PM Et

With a $6000.00 loss you should really focus on Schedule D treatment; deducting $3000.00 per year. If you were to attempt write-off; Form 4684 is form to take a Theft Loss for investments.  (Feb 21, 2011 | post #33)

US News

Feds seize computers, records at 3 Hebrew Boys offices

Still possible to benefit through taxes with a Section 165 deduction. If anyone needs assistance please feel free to call. We have talked with a few of the injured investors.  (Apr 8, 2010 | post #98)

Claremont, NC

j v huffman jr's trips over the years

Still possible to recover through tax benefits. New Tax Laws, new refund opportunities. If you haven't investigated a Section 165 deduction of your Huffman losses give us a call.  (Apr 8, 2010 | post #1831)

Columbia, SC

Read about the 3 Hebrew Boys and CCG

Lose Money With 3 Hebrew Boys? Fraud Victim Treasury Refunds Our Specialization Recover 10% - 35% of Your Loss Through Treasury Refunds All-Inclusive 100% Contingency Based Fast Proven Insured Confidential Call for a FREE, no obligation estimate of refunds. 1-800-889-1602 Investment Theft Loss Experts.com Now more than ever; based on new Revenue Procedures; you need to contact the experts. Substantial amounts of tax benefits can be lost due to improper filings of claims for benefit. IF THEY ARE NOT CAUGHT WITHIN 90 DAYS---YOU LOSE.  (Nov 23, 2009 | post #528)

Roseville, CA

Lawsuit: Roseville Ponzi scheme bilked investors

Lose Money With Loomis Wealth Solutions? Fraud Victim Treasury Refunds Our Specialization Recover 10% - 35% of Your Loss Through Treasury Refunds All-Inclusive 100% Contingency Based Fast Proven Insured Confidential Call for a FREE, no obligation estimate of refunds. 1-800-889-1602 Investment Theft Loss Experts.com  (Nov 23, 2009 | post #2)

Claremont, NC

j v huffman jr's trips over the years

Check it our Earnest: http://www.rockymo unttelegram.com/ne ws/tax-deductions- may-help-ponzi-sch eme-victims-927613 .html Tax deductions may help Ponzi scheme victims Thursday, October 29, 2009 Local residents who had their retirement accounts drained by a Ponzi scheme may be able to recoup some of their losses through tax deductions. In March, the Internal Revenue Service issued new rules allowing victims of Ponzi schemes like the one run by Bernard Madoff to recoup some money by claiming losses on their tax returns for 2008. On Monday, a man who was accused of being a co-conspirator with Joe Jones in a Ponzi scheme that bilked the retirement accounts of local residents was sentenced to 14 years in prison. Charles Devernie Harrison, 53, also was ordered to pay restitution of more than $13 million in connection with an investment scheme known as “BAB Productions.” Harrison pled guilty in October 2008 to three felony counts. Among them: securities fraud conspiring to commit mail fraud and securities fraud, and conspiracy to commit money laundering. In Ponzi schemes, new investors’ money is used to cover the investments and gains of prior investors. Victims often wind up with nothing when the scams unravel. But that’s often after they have paid capital gains taxes for years. Earlier this year, IRS Commissioner Douglas Shulman told Congress that the guidelines will apply to all such victims and will provide an easy way for investors to recoup taxes paid on “fictitious income.” Under the guidelines, investors in some of these cases are eligible for a deduction not subject to the limits on normal capital losses from investments. Mary Henderson of Rocky Mount was one of the local investors who lost her life savings from a 401(k) plan. Henderson, who had worked for years at Abbott Laboratories, had invested $180,000. She said she was counting on her tax preparer at H&R Block to handle the Ponzi-scheme loss deduction. She said she doubts that all of those who were scammed are aware of this deduction......... . ......Tom Ochsenschlager, the vice president of taxation for the American Institute of Certified Public Accountants, said Thursday that due to the complexity of the deduction, he recommends people hire a certified accountant or tax lawyer to handle the work. He said a Ponzi-scheme victim in a higher-end tax bracket could recoup as much as $35,000 for their $100,000 loss if the deduction is filled out properly...... ......A Florida firm that specializes in these Ponzi-loss deductions has solicited Rocky Mount residents through the comment section under a story about Harrison’s sentencing published on the Rocky Mount Telegram’s Web page on Monday. “Investment Theft Loss Experts,” a company whose principal owner is a tax attorney, does not ask for any up-front fees. But it gets a cut of the tax refund in return for processing the deduction, and the company handles IRS audits if they occur. The fee amounts to 3 percent of the declared loss and no more than 20 percent of the person’s total refund. The company never collects a fee of more than $16,000, said Alan Gavel, a Tampa tax attorney who has joined forces with marketing executive Steve Mead to form the company that has been in business since 2002. Gavel also said that the Ponzi scheme deduction is too complicated for most average tax preparers to grasp. “If we are not successful (in getting a refund), we don’t get paid,” he said. “The deduction (for Ponzi scheme losses) has been around since the 1950s, but it is very specialized.”  (Nov 17, 2009 | post #1814)

US News

Feds seize computers, records at 3 Hebrew Boys offices

Have them check out this article. http://www.rockymo unttelegram.com/ne ws/tax-deductions- may-help-ponzi-sch eme-victims-927613 .html  (Oct 30, 2009 | post #81)

Columbia, SC

Three Arrested for Fraud are Now Indicted by State Jury

Drake, give us a call and we'll explain all of this to perfect clarity. No obligation. This is real. Steve Mead Investment Theft Loss Experts 1-800-889-1602  (Oct 29, 2009 | post #150)

Oregon

Investment Fraud Case

Lose Money Through Investment Fraud ? Fraud Victim Treasury Refunds Our Specialization Recover 10% - 35% of Your Loss Through Treasury Refunds All-Inclusive 100% Contingency Based Fast Proven Insured Confidential Call for a FREE, no obligation estimate of refunds. 1-800-889-1602 Investment Theft Loss Experts.com  (Oct 29, 2009 | post #1)

US Federal Bureau of Investigation

Feds seize computers, records at 3 Hebrew Boys offices

Sorry about getting back to this so late, it's been busy around here. Investment Theft Loss Experts never take more than 20% of the Gross Federal Tax Benefit; but base the fee on 3% of the deductible cost basis (essentially the amount being used for the claim). A $100,000 loss would represent a $3,000.00 fee, on a deferred or contingent basis (NO MONEY UP FRONT). The $3,000 fee would hold so long as the gross federal tax benefit for the injured investor was $15,000 or higher. If the gross benefit was less than $15,000; our fee would be lowered to 20% of the actual benefit. a $100,000 claim can net anywhere from $10,000 to $35,000 in treasury refunds depending on income. The actual answer to your question is, "A firm like ours isn't expensive at all since the fee is being paid by the successful outcome." Most of the time when you think of expensive, people think of "out-of-pocke t" expense. If Investment Theft Loss Experts is unsuccessful we don't get paid.....and the taxpayer really only invested the time it took to supply our organization with the documentation we require. Give me a call and I'll calculate your refund benefit at no charge and for no obligation from you. If the benefit is significant and the recovery would be meaningful, you'll be better informed and able to make a decsion about whether this benefit makes sense for you. Believe me,when taking on business with a deferral or contigent business model; if this benefit doesn't make sense for you, we will be the first ones to tell you. Thanks for the follow up. Sincerely, Steve Mead Managing Partner Investment Theft Loss Experts 1-800-889-1602  (Oct 29, 2009 | post #79)

Palmetto, FL

Health Care - Palmetto, FL

The private sector has plenty of affordable options available. It is a question of your health and "out of pocket" max.  (Sep 30, 2009 | post #1)