Proposals for tax code amendments
H.R.1159
Title: To amend the Internal Revenue Code of 1986 to provide special rules for investments lost in a fraudulent Ponzi-type scheme.
Sponsor: Rep Meek, Kendrick B. [FL-17] (introduced 2/24/2009)
Click here for full details on HR 1159
H.R.1389
Title: To amend the Internal Revenue Code of 1986 to allow a refundable credit for taxes paid on earnings reinvested and lost in a fraudulent investment scheme.
Sponsor: Rep Ackerman, Gary L. [NY-5] (introduced 3/9/2009)
Latest Major Action: 3/9/2009 Referred to House committee.
Status: Referred to the House Committee on Ways and Means.
COSPONSORS :
Rep Lowey, Nita M. [NY-18] - 3/12/2009
Rep Maloney, Carolyn B. [NY-14] - 3/12/2009
Click here for full details on HR 1389
Response to george rioseco:
No recovery is possible for taxes, but yes from SIPC
all my madoff losses were through my ira. i never took anything out. are there any provisions to help people in my situation