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  • Attorneys David Meyer and Matthew Wilson have been selected to the list of Super Lawyers since 2011 and 2015 respectively.

  • Attorney David Meyer is a member of the Million Dollar Advocates Forum, an organization recognizing attorneys who have secured million dollar cases.

  • Martindale-Hubbell® Peer Review Ratings™ has recognized attorney David Meyer as an AV Preeminent® attorney in High Ethical Standing.

  • Attorneys David Meyer and Matthew Wilson have received a 10 out of 10 “Superb” rating on Avvo, calculated based on stringent and exhaustive criteria.

  • Attorney David Meyer was selected as the 2015 Lawyer of the Year for Professional Malpractice Law – Plaintiffs for Columbus, OH by Best Lawyers®.

  • Meyer Wilson was ranked as a Tier 1 Best Law Firm for both Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs by U.S. News.

  • Attorney David Meyerhas been selected to the list of the Best Lawyers in America® for Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs every year since 2011.

Is there a tax break for Ponzi scheme victims?

The IRS has released new guidelines concerning Ponzi schemes, which are more favorable to victims than prior options. Generally speaking, the IRS states that Ponzi scheme victims who aren't suing to recover their losses may be able to deduct up to 95% of qualified losses in the year the fraud is discovered. The new IRS rules outline that victims would not be subject to limits that apply to personal casualty or theft losses, and they may be able to carry back net operating losses for five years to offset taxes paid, or forward 20 years.

The changes do leave a number of questions open, such as:

  • Are there guidelines for people who invested in Ponzi schemes through nontaxable accounts, such as IRAs?
  • How do individuals who invest in Ponzi schemes indirectly, such as through "feeder funds," go about getting relief under the new tax changes?

If you suspect that you may have been the victim of investment fraud, you may be able to recover your losses. For more information, contact an investment fraud attorney at Meyer Wilson by calling or filling out our online form. Our experienced stock broker arbitration attorneys are licensed in Ohio, California, and Michigan, and we represent investors nationwide in securities arbitration and litigation claims.

If you need information regarding the aftermath of a Ponzi scheme, you can read Attorney David Meyer's post for the American Bar Association by clicking here.

Need More Information?

Investment misconduct can be complex and confusing. That’s why we’re here to help you. Visit our Common Questions page to find in depth answers directly from our attorneys. Get More Answers
Have You Been a Victim of Investment Fraud?

You trusted your financial advisor with your money, but now you're left wondering what went wrong. If you or a loved one suffered losses because of investment misconduct, Meyer Wilson can step in and fight to recover your losses. The team of investment fraud lawyers at the firm has been helping people like you since 1999 by winning judgments, settlements and verdicts worth hundreds of millions of dollars against brokerage firms, financial advisors and banks.

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