Ponzi schemes aimed at defrauding unsuspecting individuals and taking their money have existed for hundreds of years. The Madoff scheme brought this type of scam to the attention of the American public in 2008, but there are many other such schemes that have operated in the United States since then. The purpose of this course is to familiarize tax professionals with Ponzi schemes and help them identify the hallmarks of such schemes. The guidance offered to financial professionals to deal with clients who have suffered Ponzi losses is presented and discussed, together with examples from the U.S. Tax Court in which taxpayers are seeking to recover their losses.