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Tax Deductions Loss of Value

Foodman CPAs & Advisors

Crypto Value Decline Not Equal To Crypto Tax Deduction

Given that we are in full swing of tax season, many taxpayers are exploring the possibility of claiming a crypto tax deduction over their “devalued” crypto assets. Taxpayers ought to refer to the IRS Chief Counsel Advice...more

BCLP

Recent Tax Court Case Rules on Treatment of Madoff Account

BCLP on

In a recent Tax Court decision, Harry H. Falk, and Steven P. Heller, Co-Executors, v. Commissioner of the Internal Revenue, the United States Tax Court ruled that in the case of the Madoff Ponzi scheme, an estate which paid...more

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