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  1. #1
    Join Date
    Jan 2007
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    If Scammers Had You Pay Them Via Western Union, You Can Now File a Claim to Get Money Back

    Western Union has settled with the DOJ, FTC, and US Postal Inspection Service for $586 million in restitution to consumers.
    ftc.gov/news-events/press-releases/2017/11/ftc-alerts-consumers-if-scammers-had-you-pay-them-western-union
    The Federal Trade Commission is alerting consumers who lost money to scammers who told them to pay via Western Unionís money transfer system between January 1, 2004 and January 19, 2017, that they can now file a claim to get their money back by going to: FTC.gov/WU before February 12, 2018.

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    Ignorance more frequently begets confidence than does knowledge: it is those who know little, and not those who know much, who so positively assert that this or that problem will never be solved by science. -C. Darwin

  2. #2
    Join Date
    Aug 2015
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    186

    Re: If Scammers Had You Pay Them Via Western Union, You Can Now File a Claim to Get Money

    You can legally deduct money lost through scams from your taxes if you document the loss.

  3. #3
    Join Date
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    Re: If Scammers Had You Pay Them Via Western Union, You Can Now File a Claim to Get Money

    Quote Originally Posted by Public Warning View Post
    You can legally deduct money lost through scams from your taxes if you document the loss.
    In what country?

    For the US see;
    irs.gov/pub/irs-pdf/p547.pdf (IRS Pub. 547 {Casualties, Disasters, and Thefts}, page 9).
    First you have to be able to itemize on your return and then you must subtract $100 and then subtract another 10% of your AGI.

    For example;
    If your AGI (Adjusted Gross Income) is $25,000 then you can only claim losses over $2,490. (25,000 minus 100 and then divided by 10%)

    However, there is also way to write off losses in a Ponzi-type investment scheme. See;
    irs.gov/pub/irs-pdf/i4684.pdf (IRS Form 4684, page 4).

    There are also ways to write of gambling costs, like buying lottery tickets.
    See; irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses.
    Of course there is a catch, you can not claim amounts in excess of your winnings. And again, you must be able to itemize on your return.

    For example:
    If you spend $500 but only win $100 that $100 is all you can write off.
    If you win $1,000 then you can write of the whole $500, but, you still have to claim the other $500 as income. (at ~28% to the IRS).
    And remember, if you make over something like $450,000 a year the IRS tax rate goes up to just over 39%. For those Powerball and Mega-Millions players figure you'll pay close to half in taxes (remember State and local taxes must be paid too).
    Ignorance more frequently begets confidence than does knowledge: it is those who know little, and not those who know much, who so positively assert that this or that problem will never be solved by science. -C. Darwin

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