New legislation to protect fraud victims from tax penalties
Media Contact: Lisa McDonald, Vice President of Communications, 202-207-2829
Washington, DC – The National Consumers League (NCL) is appreciative of Representative Haley Stevens’s (D-MI) proposed legislation designed to protect fraud victims from being unfairly taxed when they are forced to tap into their 401(k)s early due to fraudulent schemes. Fraud prevention and consumer protection are central to NCL’s mission, and we strongly support this critical step in ensuring that fraud victims are not penalized further.
“Fraud victims are harmed enough when criminals steal their life savings,” said John Breyault, NCL Vice President of Public Policy, Telecommunications, and Fraud. “The last thing victims should worry about after being scammed is a bill from the IRS. NCL is thankful for Representative Stevens’ efforts to reduce the burdens fraud victims face after a crime has occurred.”
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About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.
