ATTORNEYS
Attorneys add value to their client relationships by involving Investment Fraud Recovery Network, LLC ("IFRN").
For over twenty years as a securities litigation attorney as well as an active member of PIABA, I am confident of IFRN's ability to assist you in maximizing tax benefits for defrauded investors.
IFRN may be able to convert what is normally treated as a Capital Loss into an Ordinary Loss which can immediately be deducted against Ordinary income using IRC §165(c)(2) if the following fraudulent scenarios apply to your client:
- were directly solicited by an individual associated with the failed investment and were misled as to the investment opportunity;
- have unrecovered investment losses exceeding $50,000 made with after-tax dollars (meaning the money invested should have a tax basis and not be part of a retirement or pre-tax vehicle);
- have paid state and federal income taxes for the last three years, or anticipate significant income in the near future; or
- have received an award that is partial or unrecoverable due to lack of assets, particularly in egregious cases involving unauthorized trades or Ponzi schemes.
In working with attorneys, IFRN will frequently keep the attorneys involved to provide forensic assistance. For instance, prior to claiming the 165 deduction a taxpayer should have exhausted all reasonable likelihood of recovery. As the referring attorney you were brought in to recover for damages, you are in a unique position to opine as to the likelihood of future recovery. Of course, these letters and opinions may require fees to be paid, but typically these fees are included in IFRN's fee structure.
