Attorneys for victims of Bernie Madoff’s multi-billion-dollar ponzi scheme hope New Jersey will stop opposing requests for refunds of taxes paid on earnings and assets that turned out to be fictitious, after the state lost two key tax court cases. If the state does back down, attorneys say, there could be a surge in tax appeals from victims who didn’t file in the past because the Division of Treasury announced that it wouldn’t pay refunds. Attorneys said the cases – one involving a refund of death taxes and the other income taxes – were the first Madoff tax cases in New Jersey to be resolved in the courts. Leland Moore, a spokesman for the New Jersey Attorney General’s Office, said six other Madoff-related tax cases are pending. More on NewJersey.com here.
