Investors in Bernard Madoff’s Ponzi scheme are entitled to refunds on state taxes paid for gains that never existed, a New Jersey Tax Court judge held in an opinion released Tuesday. Judge Gail Menyuk overturned a decision by state tax authorities to deny a refund to John and Cathy Dalton, a Middletown couple who invested nearly $700,000 with Madoff. Read more on Law.com here.
