Scam Victims Taxed on Stolen Money
Update: 2024-12-06
Description
Imagine you've just had everything stolen from you by a ruthless scammer. You are wondering how you will pay your bills, maybe even have enough money to buy food. And then a bill arrives from the IRS – you owe taxes on the stolen money. Unfortunately, scam victims across the country are getting hit with huge tax bills thanks to a change in the tax code a few years ago. In this episode, you'll meet Chester, a retiree from California who is living this very nightmare right now, as well as the lawmakers working on the bipartisan effort to change the tax code.
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