November 17, 2004
News & Opinion: Not a Way to Sell Books
This snippet titled "But Not Great for Book Sales" [sub. needed] from Janet Novack in the Nov. 29th issue of Forbes:
Mervyn L. Hecht, author of How to Make Money With Stock Options: A Basic Guide for the Conservative Investor, is in U.S. Tax Court fighting a decision to disallow a loss of $273,515 he claimed in 2000 from an options trading partnership. Calling the structure a sham tax shelter, the [IRS] also assessed Hecht, who lives outside Los Angeles, $81,620 in additional taxes and penalities. The Havard Law-educated Hecht, whose resume reports that he served as a consultant for law firms on options cases adn also sat on arbitration panels, asserts that the investment strategy he pursued was absolutely legitimate.