Trump facing legal, tax questions
Donald J. Trump is under fire from more than just those who want to occupy the White House. The front-runner for the Republican presidential nomination also is facing some tax and legal challenges that could complicate his bid for the White House.
Citizens for Responsibility and Ethics in Washington, or CREW, has asked the IRs to look into a donation from the Trump Foundation to a group connected with the Florida attorney general. CREW contends that the gift was improperly made to a political group and was not reported as required on the foundation's tax filing.
The Donald J. Trump Foundation, a tax-exempt organization with an IRS 501(c)(3) designation, got attention in January when Trump skipped a debate in Iowa to hold a fundraiser for veterans' groups. During that televised event, he asked his supporters to go online and give money to the Trump Foundation, which he said would then distribute the donations to organizations that support military personnel, veterans and their families.
Gift to Florida group questioned
CREW alleges that the Trump Foundation in 2013 donated $25,000 to And Justice For All, a political organization with ties to Florida Attorney General Pam Bondi. At the time of the donation, Bondi's office was investigating complaints against Trump University, according to CREW's letter to IRS Commissioner John Koskinen.
Florida ultimately decided against joining the legal action against Trump University because, according to Bondi, her office had received only 1 consumer complaint about the institution.
In addition, CREW asks Koskinen's agency to "investigate whether the Trump Foundation violated federal law by filing a tax return that failed to disclose that the foundation made the contribution and engaged in political activity."
Read more: http://www.bankrate.com/financing/taxes/trump-facing-legal-tax-questions/#ixzz44PhGfmlm
Follow us: @Bankrate on Twitter | Bankrate on Facebook
