- United States
- Wash.
- Letter
I want to strongly encourage you to demand the restoration of the theft deduction for scammed victims. It is outrageous that victims of scams, who may have lost their life savings, may next have to sell their homes to pay the IRS tax bill for having taken their savings out of the system. That money is being counted as income by the IRS, but of course the victim has no access to this "income," it's gone.
The scammers are extremely talented. The victims have been victimized by criminals, and will next be victimized by the IRS. Until 2017, victims of fraud had access to a theft deduction. Trump's 2017 tax overhaul removed the deduction. This is not the way our government should be funding itself. Please support the measures currently languishing in committee, and bring that deduction back!