Aaron Novinger is back on the road this summer. His conspicuous bright blue bicycle, with a lightweight carbon frame and distinctive aerodynamic design, has also returned.
This year, though, as Novinger makes his third trek from Dallas to Washington, D.C., the reason for the trip is different.
He’s still riding to raise awareness for victims of financial fraud. The stories haunt him — a man who lost his entire retirement due to a corrupt boss, a couple whose savings were wiped out but were too ashamed to report the crime.
But, as Novinger tells it, at the end of last summer’s ride, he and his wife, Rebecca, found themselves sitting in front of several members of the House of Representative’s Ways and Means Committee in the U.S. Capitol. They’d made some phone calls ahead of time. But Novinger was floored when, after explaining what he’d like to fix in the federal tax code, a legislative aide looked him in the eye and said, “I think we can take care of that.”
And so IRS Form 4684 Section C, which had been set to expire at the end of 2025, was extended. IRS Form 4684 was created in 2009 and allows Ponzi scheme victims to receive an income credit up to 95% of what was stolen.
As Novinger says, “A Ponzi scheme is a financial hurricane, but Form 4684 Section C is the rainbow after the hurricane. Form 4684 Section C offers up to 95% tax relief. There is hope.”
That’s why Novinger is back on the bike. This year, instead of warning those he meets of pending danger, he’s spreading the good news and encouraging victims of financial fraud to speak out. He’s trying to raise awareness of what he calls “one of the quietest crimes in America” and show how individuals can recover a significant portion of what was stolen.
Novinger hit the road June 1, biking around 60 miles on a normal day. He stopped through Iola Friday on his way north to Kansas City. From there, he’ll head east, passing through St. Louis, Mo. on his way to Washington.
Aaron and Rebecca Novinger operate Interstate Business Management, which offers accounting and financial services to small businesses in Texas, Oklahoma and Missouri. The accounting firm has agreed to provide free tax filing help for Ponzi victims by completing IRS Form 4684 at no charge. The form helps report losses not covered by insurance.
For the last two years, Rebecca has joined Aaron on the trip. This year, though, employee Justin Williams follows Novinger with the supply van, providing supplies and logistics along the way.
Those interested in following Novinger’s progress and learning more about fighting financial fraud can visit Novingers’ website, ponzirelief.org. A petition is free to sign.
