Matthew L. Roberts was quoted in a CNBC article “Scam Victims Can Owe Taxes on Stolen Money. A Bill in Congress Could Offer Relief”

Firm partner Matthew L. Roberts was quoted in Sarah Agostino’s recent CNBC article, “Scam Victims Can Owe Taxes on Stolen Money. A Bill in Congress Could Offer Relief,” discussing the federal tax treatment of scam and fraud losses. Mr. Roberts explains when taxpayers may qualify for a theft loss deduction under current law, the limitations imposed by the Tax Cuts and Jobs Act, and why many victims are unable to obtain meaningful tax relief after losing money to scams or fraud.

As Congress considers legislation that could expand tax relief for scam victims, the article provides timely insight into the evolving rules governing theft loss deductions and the tax consequences of financial fraud. Understanding the current legal framework remains critical for taxpayers, financial professionals, and advisors navigating these complex tax issues.