Word: returns
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...When the couple's $36 million in assets were divvied up last year after more than a quarter century of marriage, 50-year-old Myerson got 57% of the loot. Ingrid Myerson walked away with the rest. So in return for paying his ex-wife $13.1 million in cash, and handing over a $2.1 million beach house in South Africa, Brian Myerson kept hold of stock in Principle Capital Holdings (PCH), his investment company, worth more than $20.1 million at the time. (See pictures of things money...
...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...
...third option, a "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...
...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...
...dining hall isn’t entirely bad. Dining hall manager Dave A. Seley would do anything to make Adams residents happy and ensure they enjoy their dining experiences (or ensure the return of a stolen CEB Turf trophy...