South Florida accounting firm Daszkal Bolton is the latest to offer services to clients who have suffered losses from Bernard Madoff's $50 billion Ponzi scheme.
The firm has assembled a multi-disciplinary task force to help investors victimized by the fraud. "Defrauded investors should begin gathering documentation immediately to benefit from potential tax refunds and deduction strategies before the statute of limitations expires," recommended the firm. "Most individual taxpayers have until April 15, 2009, to amend their 2005 income tax returns."
The firm advised clients to collect their financial statements, investment statements, transaction tickets, tax returns and other relevant financial data. The firm's Investment Fraud Recovery Team will help clients analyze their financial information to identify income that was reported and taxed in prior years but never received; determine the principal amount invested and lost; identify losses that may be eligible for carrybacks to prior years for potential refunds or carryforwards to future years to offset future tax liabilities; amend prior tax returns and prepare 2008 tax returns.
In addition, the firm said it would coordinate with the client's legal counsel regarding the need to file a Securities Investment Protection Corporation insurance claim, which covers qualified investments up to $500,000 per investor. Daszkal Bolton noted that the deadline for SIPC claims is March 1, 2009.
The firm said it would also review a client's homeowners insurance policy to determine whether it contains sufficient fraud safeguard provisions, and assist with any related claims; as well as determine whether there are any other insurance policies or related courses of action open.
For more information, call (561) 367-1040.
