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There's no unanimity about what to do in regard to Ponzi and other fraud recovery when it comes to taxes. Ponzi survivors are getting a litany of mixed signals from bulletins, tax-adviser reports, panel discussions and the Web. And to make matters worse, many of those trying to get their tax returns in quickly are being slow-danced by their former feeder-fund managers, who, under advisement, have been slow in sending out amended statements, or K-1s; they have until Oct. 15, the final deadline for 2008 filings. (See a TIME video from outside the courthouse...
...claim of rights credit," is most beneficial, he said. It allows victims to claim a credit on their 2008 tax return for all taxes paid on Ponzi income going back to the first investment year. The catch, according to Tipograph, is that "it's never been tested in regard to Ponzis." This option is typically used in insider-trading cases, when tax monies need to be returned. (See 25 people to blame for the financial crisis...
...biggest problem in regard to China is that the contradiction between their market economy and communist rule has grown immensely. In this situation there is a unique role that can be played by Japan, given the fact that Japan is similar to China in terms of culture and ethnicity and has a relationship that spans more than 1,000 years. Using this unique position, Japan should make every effort, together with the United States, to persuade and encourage China to move toward democratization...
...Farrell was not cautious in condemning the Bush administration for its relationship with science, saying that “the previous administration just ignored or put off science” because of an agenda that was economically and morally motivated. The Clinton administration did very little with regard to science as well, said James G. Anderson, professor of atmospheric chemistry, arguing that the Clinton administration, while more open to science philosophically, in practice did not develop the infrastructure needed for energy and climate change research. Obama, Anderson believes, will be different because, in part, his rhetoric shows a more thorough...
...appeared that Northern Ireland's lengthy peace process had succeeded in ending the violent conflict known locally as the Troubles. Carroll was the first police officer to be killed by Northern Irish terrorists in over a decade. "I had begun to take the process for granted and to regard the peace as irreversible," says Lord Bew, professor of Irish politics at Queen's University Belfast and a legislator in Britain's Upper House. "I was shocked to death [by the killings]," says Belfast native Jim McNally as he strolls along the city's Falls Road. "I just think...