Word: loss
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...likely the IRS will just allow for the theft loss," said Tipograph. "It's not the best option for taxpayers but is a reasonable way to handle this." But if you don't file by April 15, you can lose out on filing for 2005, Tipograph said, since there's a rolling three-year time limit. One can, however, file a "protective refund claim" form, a kind of placeholder that keeps the 2005 return open...
...second is a "phantom income deduction," which allows you to remove the Ponzi income going back three years. But if you still have a loss, you can carry it forward (i.e., apply it as a deduction against future gains) until the full loss is made...
...forthcoming" - by April 15, one hopes. He suggests a simple approach for both the victims and the IRS. "If the [IRS] were to allow the victim to deduct his or her tax basis, less the SIPC recovery and less a small reserve for other recoveries, as a theft loss on the victim's 2008 tax return, the taxpayer could quantify the loss quickly and file for the appropriate refunds," Goldstein says. "The benefit for the IRS is the consistency of the claims filed, which will make the administration of this deluge of claims easier...
...very same night that the NCAA team was honored, Harvard suffered a 6-2 loss to Yale, yet another humiliation in the midst of a 13-game winless streak...
...games later, the Crimson advanced to the championship round of the Beanpot for the first time in a decade and pressed eventual NCAA champion Boston College to overtime before surrendering a 6-5 loss...