Ed Brown Discusses Madoff case on CNBC’s ‘Closing Bell’

The Closing Bell

Edward Brown, a Member of the Firm in the Business Law Practice and Tax Law and Estate Planning practices in the Atlanta office, was interviewed on the CNBC television news program "Closing Bell" about the recovery issues facing victims of Bernard Madoff.

Brown commented that the IRS has created a "two-tier" system for victims by granting a "safe harbor" tax deduction to direct investors, while not permitting victims who invested through a feeder fund to make use of the safe harbor. Brown noted that while those individuals can still deduct their losses, they are being treated differently than direct investors by both the IRS and the SIPC.