06/08/2026
In our latest post, firm partner Matthew L. Roberts examines two recent federal court cases that demonstrate the IRS's continued scrutiny of theft loss deductions in the wake of the Tax Cuts and Jobs Act. Mr. Roberts discusses the pending refund litigation in ๐๐ข๐ช๐ข ๐ท. ๐๐ฏ๐ช๐ต๐ฆ๐ฅ ๐๐ต๐ข๐ต๐ฆ๐ด, involving a substantial cryptocurrency-related fraud loss, and analyzes the Sixth Circuit's decision in ๐๐ฉ๐ข๐ถ๐ต ๐ท. ๐๐ฐ๐ฎ๐ฎ๐ช๐ด๐ด๐ช๐ฐ๐ฏ๐ฆ๐ณ, which denied a taxpayer's claimed theft loss deduction. The article underscores the importance of careful analysis and documentation, as taxpayers who fail to meet the critical requirements to claim a theft loss deduction may face IRS challenges, audits, and potential penalties.
Read more: https://www.meadowscollier.com/recent-court-cases-show-irs-continues-to-challenge-theft-loss-deductions