Word: recoverers
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In addition, victims who are part of partnerships, or small businesses, will be able to go back 5 years to recover investments and phantom monies. Previously, it appeared victims could only go back three years. With this new ruling, a theft loss deduction that creates a net operating loss for...
Complicating matters a bit for victims, the IRS said that those who are suing Madoff will be able to recover 75% of their net operating loss, while those not suing will be able to recover 95%. This does not, however, include monies recovered through filing claims with the Securities Investor...
A hypothetical example might go like this: a Madoff victim with a balance of $1.5 million, but who withdrew $500,000 over the life of the account, would multiply the resulting $1 million by 95% (provided they are not suing Madoff) to yield their NOL, or a "net operating loss...
Not only must Harvard improve its offense from last week, the defense must also recover after letting up a season-high seven goals.
TIME: Some economists have said that Japan is yet to recover from the lost decade. What specifically are you going to do about reinvigorating domestic demand?