Madoff Help News & Assistance

I have developed these quickcalc spreadsheets to assist in getting approximations of tax and SIPC refunds. You too may find them helpful. The spreadsheets include an easy guide to both quickly calculate approximately your tax and SIPC refunds and to review various different scenarios to approximate your overall situation. The guide is also provided below.

To download the Quickcalc spreadsheet for your own personal use, click here.

EXPLANATORY NOTES

THIS IS A PRELIMINARY SPREADSHEET

Data Entry: please enter data for Principal, Tax Rate, Interest-Income Rate, SIPC, & Tax Refund in grey bar where indicated; blue bar for adding Additions & Withdrawals on that particular page) changes in other areas may damage spreadsheet

PLEASE NOTE:
1 interest-income, tax withdrawal, and tax refunds are level throughout — unlike Madoff accounts which varied in alleged returns

2 if you want to run any worksheet with no tax withdrawals (paying taxes from other sources), enter tax rate of 0%; for all sheets except Basic Sheet, make sure to find and enter the Refund Tax Rate, or proper refund amounts cannot be calculated

3 each worksheet requires its own user data entry, which means if you go from the Basic Sheet to the Basic Safe Harbor sheet you will have to reenter user data

4 entering Tax Refund rate allows investor to differentiate between earlier accrual tax rates versus current refund rate. For example, tax rates were higher in the ’90’s than today.

5 this sheet has not been fully vetted; don’t hiss if there are problems (just let me know)

6 SIPC calculations are based on Picard’s stated approach (money in minus money out) limited to $500K if not eligible for SIPC, enter $0 in User Entry

7 tax withdrawals are separate from “other withdrawals”

SHEET DESCRIPTIONS:
SAFE HARBOR TAX & SIPC QUICKCALCS: purpose is to allow quick approximate calculations of Safe Harbor tax and/or SIPC claim refunds when I get a chance, I’ll try to expand with other options (i.e. claim of right)

BASIC PROJECTION TABLES: purpose is only to lay out feasible accrual and tax payment amounts to help frame out discussions

SAFE HARBOR REFUNDS: purpose is to project Safe Harbor and SIPC refunds given different investor scenarios WITH ADDITIONS + WITHDRAWALS: essentially the SAFE HARBOR REFUNDS worksheet but allows investors to enter separate withdrawals or additions (all withdrawals or additions assumed to be end of year); Enter withdrawals or additions (no negative numbers) in the shaded vertical columns as indicated on the page.

NOTE: I’ve entered numbers in these columns for demonstration purposes only. PLEASE DELETE THEM.

full disclaimer, hold harmless, non-guaranteed, hassle-free; of course please let me know if you have any thoughts or suggestions.

Thanks, Ron