New video series on the "Tax Cuts and Jobs Act of 2017" announced by respected tax specialist
Tax Lawyer Richard Lehman of Lehman Tax Law, Florida, announced the release of the first of six videos on the tax changes produced by the "Tax Cuts and Jobs Act of 2017."
Mr. Lehman explains his motivation for developing these explanatory videos. "I have built a national reputation for handling tough tax cases, I want to use my 40 plus years of knowledge to educate and simplify for individuals these confusing and sometimes overwhelming tax laws."
The first video being released explains the impact of the Trump Tax Cuts on Ponzi Scheme theft losses. "A Ponzi scheme is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors." (Wikipedia). A well-known example of a Ponzi Scheme is the Bernie Madoff investment scandal discovered in late 2008.
The Act has eliminated "tax loss carrybacks" to prior years. Therefore, the Ponzi Scheme theft loss may be less valuable for injured taxpayers. Explains Mr. Lehman: "This is because the tax rates, upon which tax refunds for Ponzi Scheme losses will be based, have gone down and the percentage of tax that will be refunded will be reduced."
The video series consists of the following six subjects:
Tax Planning for Recovery of the Ponzi Scheme Clawback
Tax Planning for Recovery of the Ponzi Scheme Losses
Tax Planning for Foreign Investors in U.S. Real Estate
Tax Planning for Foreign Investors who is Immigrating to the U.S.; Pre-Immigration Tax Planning
The Offshore Voluntary and Streamline Procedures for Unreported Foreign Bank Accounts
Tax Planning for the Foreign Investor – General Principles
Mr. Richard Lehman has been practicing in Florida for nearly 40 years. He obtained his law degree from Georgetown Law School and his Master's degree in Taxation from New York University. Richard Lehman is a frequent speaker on tax issues and has published several articles on the subject matter. His law firm website is https://www.lehmantaxlaw.com.
The first video of the series "Ponzi Scheme Losses and the 2017 Tax Cut and Jobs Act" (47 minutes long) is available at https://www.youtube.com/
Note: These Reports are not intended to be and cannot serve as legal advice. Each taxpayer faces a unique factual situation which must be reviewed by tax advisors and legal counsel before any conclusions can be reached.
A summary of the 2017 Tax Cut and Jobs Act is on Wikipedia at https://en.wikipedia.org/
Richard S. Lehman, Attorney at Law
United States Taxation
and Immigration Law, LLC