A client told me that she saw a commercial about a tax relief fund for those who know someone who owes them money and they know they won't get it back they can write off up to $3,000. I've never heard of this, nor can find any information as such. Has anyone heard of this?
$3000 is the amount of capital losses one can take per year.
So if you invested money that you won't ever get back, that could be a capital loss that you could deduct up to $3000 per year until its used up.
Its not new nor does it have anything to do with Biden.