Tax Subject: Video Series: Ponzi Scheme Losses

Richard Lehman's series of six videos on the impact of “Tax Cuts and Jobs Act of 2017”

Tax Attorney Richard Sam Lehman of Lehman Tax Law announced the release of the first of the six videos which will reflect on all the changes that resulted from the “Tax Cuts and Jobs Act of 2017” (also referred to as “Trump Tax Cuts”). Most of the changes introduced by the Act went into effect on January 1, 2018 and will not affect 2017 taxes. Each of the six videos represents an important subject regarding the Internal Revenue Code and they will be relevant to many taxpayers, both foreign and domestic.


The first video explains the impact of the Trump Tax Cuts on Ponzi Scheme theft losses. “A Ponzi scheme is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors.” (Wikipedia). A well-known example of a Ponzi scheme is the Bernie Madoff investment scandal discovered in late 2008. 


The Act has eliminated “tax loss carrybacks” to prior years. Therefore, the Ponzi Scheme theft loss may be less valuable for injured taxpayers.  Explains Mr. Lehman: “This is because the tax rates, upon which tax refunds for Ponzi Scheme losses will be based, have gone down and the percentage of tax that will be refunded will be reduced.” 


The video series consists of the following six subjects:

  • Tax Planning for Recovery of the Ponzi Scheme Clawback
  • Tax Planning for Recovery of the Ponzi Scheme Losses
  • Tax Planning for Foreign Investors in U.S. Real Estate
  • Tax Planning for Foreign Investors who is Immigrating to the U.S.; Pre Immigration Tax Planning
  • The Offshore Voluntary and Streamline Procedures for Unreported Foreign Bank Accounts
  • Tax Planning for the Foreign Investor – General Principles

Mr. Richard Lehman has been practicing in Florida for nearly 40 years. Richard obtained is law degree from Georgetown Law School and he received his Master’s degree from New York University in taxation. Richard Lehman is also a frequent speaker on tax issues and has published several articles on the subject matter. His law firm website is https://www.lehmantaxlaw.com.


The first video of the series “Ponzi Scheme Losses and the 2017 Tax Cut and Jobs Act” (47 minutes long) is below and  also available at https://www.youtube.com/watch?v=DXnxsHZtiiI.


Note: This information  is not intended to be and cannot serve as legal advice. Each taxpayer faces a unique factual situation which must be reviewed by tax advisors and legal counsel before any conclusions can be reached. A summary of the 2017 Tax Cut and Jobs Act is on Wikipedia at https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017.

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A summary of the 2017 Tax Cut and Jobs Act is on Wikipedia at https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017

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Ponzi Scheme Loss and the 2017 Tax Cut & Jobs Act (47 mins)

The first video explains the impact of the Trump Tax Cuts on Ponzi Scheme theft losses. “A Ponzi scheme is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors.” (Wikipedia). A well-known example of a Ponzi scheme is the Bernie Madoff investment scandal discovered in late 2008. To read the articles about this subject, please click here.