Five red flags in Trump's taxes

[Scott]

 

An entire office of tax experts has been quietly studying former President Donald Trump’s still-unreleased tax returns for weeks and produced a report showing he paid little or no federal income tax while in office.

Though not well known outside tax circles, the Joint Committee on Taxation is Congress’ brain on tax issues, and the House Ways and Means Committee turned to the nonpartisan agency for help deciphering Trump’s exceedingly complicating filings.

Since late last month, JCT has been poring over documents behind closed doors and says in a report released this week by Democrats that there are multiple issues that the IRS should be examining.

https://www.politico.com/news/2022/12/22/red-flags-trump-taxes-00075198

[Chomper Higgot]

There’s a surprise… only five red flags.

[ozimoron]

5 minutes ago, Chomper Higgot said:

There’s a surprise… only five red flags.

It appears that "Trump did nothing wrong" may not age well.

[riclag]

No surprise ! A article from a few years ago. Complicated! 
who wants to pay taxes when there are so many accountants willing to find legal ways to avoid them !

“These are eye-popping revelations, but most people won’t wade through the details, which are complicated as hell. And even the Times doesn’t claim that Trump broke any laws. He took advantage of a labrynth of legal deductions that are available to people who traffic in real estate and investments--unfairly, in my view, but that’s the system approved by Congress.

https://www.foxnews.com/media/new-york-times-and-trump-taxes-why-its-not-a-campaign-bombshell

Edited December 23, 2022 by riclag

[Tug]

He’s a dirty little con man and the one year he paid taxes was when he sold some of daddy’s assets some business man!not!lock him up!

[ozimoron]

1 minute ago, Tug said:

He’s a dirty little con man and the one year he paid taxes was when he sold some of daddy’s assets some business man!not!lock him up!

I disagree, he's not little. Except for his hands.

Edited December 23, 2022 by ozimoron

[Chomper Higgot]

7 hours ago, riclag said:

No surprise ! A article from a few years ago. Complicated! 
who wants to pay taxes when there are so many accountants willing to find legal ways to avoid them !

“These are eye-popping revelations, but most people won’t wade through the details, which are complicated as hell. And even the Times doesn’t claim that Trump broke any laws. He took advantage of a labrynth of legal deductions that are available to people who traffic in real estate and investments--unfairly, in my view, but that’s the system approved by Congress.

https://www.foxnews.com/media/new-york-times-and-trump-taxes-why-its-not-a-campaign-bombshell

Unfortunately for Trump, and your argument, tax evasion is simple to understand and explain.

 

The DOJ have people who understand this stuff.

[placeholder]

9 hours ago, riclag said:

No surprise ! A article from a few years ago. Complicated! 
who wants to pay taxes when there are so many accountants willing to find legal ways to avoid them !

“These are eye-popping revelations, but most people won’t wade through the details, which are complicated as hell. And even the Times doesn’t claim that Trump broke any laws. He took advantage of a labrynth of legal deductions that are available to people who traffic in real estate and investments--unfairly, in my view, but that’s the system approved by Congress.

https://www.foxnews.com/media/new-york-times-and-trump-taxes-why-its-not-a-campaign-bombshell

As the multiple convictions of the Trump Organization show, having accountants doesn't mean that the law isn't being violated.

[ozimoron]

9 hours ago, riclag said:

No surprise ! A article from a few years ago. Complicated! 
who wants to pay taxes when there are so many accountants willing to find legal ways to avoid them !

“These are eye-popping revelations, but most people won’t wade through the details, which are complicated as hell. And even the Times doesn’t claim that Trump broke any laws. He took advantage of a labrynth of legal deductions that are available to people who traffic in real estate and investments--unfairly, in my view, but that’s the system approved by Congress.

https://www.foxnews.com/media/new-york-times-and-trump-taxes-why-its-not-a-campaign-bombshell

That was "a few years ago". Now it's become a campaign bombshell. Regardless of any laws Trump may or may not have broken the voters will decide. At that time there had been no audits of Trump's taxes conducted anyway so Fox had no clue.

[thaibeachlovers]

My prediction- it'll come to nothing, just like all the rest over past 6 years.

 

Trump has been audited by the IRS already and they found nothing illegal to prosecute him over.

One more nothing burger to add to the list of failed attempts.

[ozimoron]

1 minute ago, thaibeachlovers said:

My prediction- it'll come to nothing, just like all the rest over past 6 years.

 

Trump has been audited by the IRS already and they found nothing illegal to prosecute him over.

One more nothing burger to add to the list of failed attempts.

You're not keeping up. Trump was only audited for 2019 after the committee requested his tax returns. The House just passed a bill to codify the already mandated (by regulation) aiduts of any president into law. The next Trump appointee to get charged will be the the one who failed to conduct those mandatory audits. I forget his name and couldn't be bothered to look it up.

[Chomper Higgot]

3 minutes ago, thaibeachlovers said:

My prediction- it'll come to nothing, just like all the rest over past 6 years.

 

Trump has been audited by the IRS already and they found nothing illegal to prosecute him over.

One more nothing burger to add to the list of failed attempts.

Pinned

[Credo]

The IRS is primarily interested in getting their money.  They are less interested in prosecuting people.