Congress saddled scam victims with taxes. A new bill would change that.

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4 thoughts on “Congress saddled scam victims with taxes. A new bill would change that.

  1. I’m sure the elimination of the tax deduction for personal losses to scammers by the new Republican-controlled Congress and the election of a well-known grifter as President is nothing more than a coincidence. Right?

    1. The rich want more of their money back. Those who aren’t rich need to pay more to make up the difference. If that includes scam victims, well, Republicans always have an endless supply of thoughts and prayers to offer.

  2. This is a ridiculous issue to raise in the first place. The money is being held in retirement accounts which have penalties for early withdrawal, and/or the money is taxed as income when it comes out. The taxes should be withheld immediately upon withdrawal. (Kind of like a lottery winner who wants the early cash payout.)
    What these “victims” want is to be able to take money saved for their future without the agreed-upon income taxes and penalties. This is ridiculous.
    Everyone will be incentivized to take early withdrawals and “get scammed” by their relatives, so they can avoid taxation on their income. [People do a lot of crazy things to avoid paying taxes.] This bill should be rejected.

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