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This IRS back door Bailout will probably cost in the tens of $BILLIONS while folks are distracted by the Outrage over a piddly $125MILLION or so in bonuses. These folks are crafty. Enjoy the show, it is costing a fortune.
Now, idiot investors in Madeoff and other Ponzi schemes will get special treatment by the IRS.
http://www.nytimes.com/2009/03/18/bu...tml?8au&emc=au
Hey, IRS, I am part of a huge "theft loss" now being done by the FIRE Perps at the US Treasury. We have all been cheated, bring on the Tax Relief.
Now, idiot investors in Madeoff and other Ponzi schemes will get special treatment by the IRS.
"The I.R.S. plan eases rules governing theft losses, which are deductions claimed by investors who are cheated by their advisers and others in Ponzi schemes and similar frauds.
The plan, which applies to victims of all Ponzi schemes, is likely to provide major relief to victims of Mr. Madoff, who pleaded guilty last week to orchestrating what prosecutors say is the largest Ponzi scheme — one that exceeded $50 billion and involved 13,000 investors. It is also likely to provide clarity for victims as they prepare to file federal income tax returns by the April 15 deadline, and help the I.R.S. avoid an unwanted avalanche of amended returns from victims.
The commissioner of internal revenue, Douglas Shulman, announced the plan in testimony before a Senate Finance Committee hearing on Ponzi schemes, tax evasion and offshore banking fraud. Later, in a briefing, Mr. Shulman said that “clearly the Madoff case is tragic as so many people were victims of this fraud, but the case also raises a staggering array of tax issues.”"
The plan, which applies to victims of all Ponzi schemes, is likely to provide major relief to victims of Mr. Madoff, who pleaded guilty last week to orchestrating what prosecutors say is the largest Ponzi scheme — one that exceeded $50 billion and involved 13,000 investors. It is also likely to provide clarity for victims as they prepare to file federal income tax returns by the April 15 deadline, and help the I.R.S. avoid an unwanted avalanche of amended returns from victims.
The commissioner of internal revenue, Douglas Shulman, announced the plan in testimony before a Senate Finance Committee hearing on Ponzi schemes, tax evasion and offshore banking fraud. Later, in a briefing, Mr. Shulman said that “clearly the Madoff case is tragic as so many people were victims of this fraud, but the case also raises a staggering array of tax issues.”"
Hey, IRS, I am part of a huge "theft loss" now being done by the FIRE Perps at the US Treasury. We have all been cheated, bring on the Tax Relief.
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