Maine Lawmakers Push Tax Relief for Scam Victims
Portland Maine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Maine Lawmakers Propose Bill to Relieve Tax Burden for Scam Victims
Maine lawmakers are swiftly advancing a bill, LD seven fourteen, to align state tax rules with recent federal changes. The measure aims to allow scam victims to deduct losses from investment frauds involving stolen funds in their state income taxes. The bill, which received unanimous approval from the taxation committee, would apply to scams occurring after January 1, 2023. Eligible victims must have experienced a crime under state law with no chance of recovery and have invested funds. The proposal gained traction following reports of a couple from China who lost $1.3 million to scammers. With scams targeting seniors, particularly those involving cryptocurrency, surging, the bill could provide relief for more victims.
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