Jeff Has Been Served

Jeff Lowrance was served with a civil lawsuit earlier today.

Blog Maintenance Possible

If in the near future you can no longer access this blog, it is because it is down for maintenance.

Experienced CPA

If any of you are interested in a good CPA, I will give you the information for the one I am using. He has other clients who are victims of FCSL and other Ponzi schemes besides FCSL. He has decades of experience with business accounting and taxes.

John Griffin, CPA
Professional Tax and Accounting
2300 S. Rural Rd.
Tempe, AZ 85282
480-967-8837
protaxaz@earthlink.net

Tax Update

My accountant sent me this link to an article entitled:

IRS Releases Guidance for Ponzi Scheme Investors, MARCH 19, 2009

http://www.journalofaccountancy.com/Web/20091552.htm

It gives guidance on how we can report the loss.

FCSL March 29, 2009 Weekly Update

Here is Jeff's weekly update.

http://docs.google.com/Doc?id=dchn7nmp_11f5tzv6dg

Just click on the link to read it.

Helpful Tax Information

I found this very helpful. If any of you have found other helpful information from speaking with your accountant, tax attorney or searching online, please post it in the comments. Let's reserve the comment section under this post for helpful tax related comments only. Other comments should continue under one of the other most recent posts.

http://www.vcresearch.info/open/forums.asp?TopicId=9309&ForumId=127

If any of you have written this off as "theft", please let us know what definitions of theft you had to meet and what you used as evidence to show that it fits the definition. With this kind of a tax write off my chances of an audit will be much higher.