My friend’s ex-wife forged and cashed his IRA check for $25,000.00. He now owes taxes on that money. He has a copy of the forged check. This happened four years ago. What can he do to resolve this matter?
Your friend really needs to talk to a lawyer. A lot may depend on when your friend learned that his endorsement was forged. Given the amount of money involved, its hard to believe that the forgery was concealed for very long.
The Uniform Commercial Code has a deadline by which claims for forged endorsements must be brought. In most states, that deadline is three years from learning of the forgery. However, there may be other laws that will allow your friend to go after his former spouse. A lawyer can help him decide the best course of action.
Your friend should also contact the IRS (or have the attorney do so) and explain the situation. That agency would much rather have taxpayers be up front with them than have to root out problems during their investigations.
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Your friend really needs to talk to a lawyer. A lot may depend on when your friend learned that his 