Fortunately there is a section of the IRS code dedicated to help victims of investment fraud - IRC Section 165 (c)(2) that is not often used. When you file for theft loss tax deduction it can often speed up the acknowledgment of the fraud losses and you can deduct the entire loss.

Basically any unused portion of loss deduction is applied against your income for the last three years which can result in a tax refund. It gets even better. If you still have additional loss deductions you can carry it forward for the next twenty years and apply it against future income. Give us a call at 1.800.IRS.HELP and we can personally review your case and advise you of your options.

To see if you qualify we will look at the following things

  • Were the legal definitions of theft met

  • Were you targeted specifically for investor fraud

  • Was it a non-business transaction for profit

  • Is there a chance of recovery

  • Amount of taxes paid for the 3 years before the fraud

Call us at 1.800.IRS.HELP today to see if you qualify for the investment fraud tax loss deduction.

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