CCC requests IRS guidance for #PFGBest taxpayers

#PFGBest Customers

Are you a customer of PFGBest? The CCC is working with regulators and monitoring the court on behalf of PFG customers. At this stage, we are advising customers to gather their statements and prepare for a claims or account transfer process.

Stay tuned to our website for more information.

The Commodity Customer Coalition submitted a letter to the IRS requesting guidance for taxpayers who were victims of the PFGBest fraud.  In particular, the CCC seeks guidance as to whether or not PFGBest account holders can claim their losses due to the fraud as theft losses using Revenue Ruling 2009-9 and Revenue Procedure 2009-20, put into place to assist victims of the Madoff Ponzi scheme.

Please view the letter and supporting documents below.


The relevant IRS materials are:Revenue Procedure 2009-20

Revenue Ruling 2009-9


PFG.IRS.ltr.02.20.2013

Download (PDF, 2.55MB)

U.S. v. Wasendorf, Sr. - Plea Agreement_9_18_12

Download (PDF, 364KB)

Wasendorf Judgment

Download (PDF, 447KB)

 

#MFGlobal Customers

Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy process of MF Global on a pro bono basis, and informally represents thousands more in the public domain.

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