Trump directed $2.3 million owed to him to his tax-exempt foundation instead
Source: Washington Post
Donald Trumps charitable foundation has received approximately $2.3 million from companies that owed money to Trump or one of his businesses but were instructed to pay Trumps tax-exempt foundation instead, according to people familiar with the transactions.
In cases where he diverted his own income to his foundation, tax experts said, Trump would still likely be required to pay taxes on the income. Trump has refused to release his personal tax returns. His campaign said he paid income tax on one of the donations, but did not respond to questions about the others.
****
But, tax experts say, the IRS generally requires that the person who was owed the money pay income tax on it. One key factor: Did the person exercise control over where their money went? If the money was directed to a specific recipient, it generally counts as income.
You cannot take money that you earned, thats your income, and direct it elsewhere without paying taxes, said Ellen Aprill, a professor at Loyola Law School in Los Angeles. If you do it, you have to treat it as your income, and you have to pay tax on it first.
Read more: https://www.washingtonpost.com/politics/trump-directed-23-million-owed-to-him-to-his-charity-instead/2016/09/26/7a9e9fac-8352-11e6-ac72-a29979381495_story.html?postshare=2761474922583336&tid=ss_tw
More exceptional reporting by David Fahrenthold regarding the Trump Foundation "charity" scam/slush fund.
The refusal by Trump to release personal income tax returns makes glaring sense now. He's a cheat.
moman
(73 posts)wordpix
(18,652 posts)Foggyhill
(1,060 posts)I think this thing is going to be really bad, especially if HRC
makes it a talking point with all the surrogates.
Farmgirl1961
(1,493 posts)n/a
PearliePoo2
(7,768 posts)Be safe out there, David.
molova
(543 posts)He should ask a question about this.
Farmgirl1961
(1,493 posts)n/a
Daemonaquila
(1,712 posts)Just charge him already. Even if you don't win on everything, you'll force his taxes into the public record. That's enough.
ailsagirl
(22,837 posts)And sometimes I think he's right
alcibiades_mystery
(36,437 posts)It is criminal behavior. He diverts funds owed to him to the Foundation, then uses Foundation funds to settle his own debts. What's the result? He evades the taxes properly owed on the earnings. Period.
It is illegal without qualification.
Trump is an ordinary tax cheat and criminal.
Thinkingabout
(30,058 posts)Then use the foundation money to pay your bills. That's pretty thin, he needs more than an audit, it should be tax evasion charges.
ailsagirl
(22,837 posts)trueblue2007
(17,138 posts)SleeplessinSoCal
(8,992 posts)I recall Air America back around 2005 reporting the elimination of the IRS auditors favoring the rich. T-Rump could be a full time job for the justice dept. Maybe he'll wind up behind bars. But then again he is only one among thousands who hide their wealth. How do we get the Libertarians to understand the downside of their shortsighted arguments against government?
Igel
(35,191 posts)If he didn't pay taxes on it. He did on one such diversion of funds, his spokesfolk says, but there's no word about the rest.
The worst that would happen is somebody would investigate you.
He's teflon because the same assumption of guilty until proven innocent works the same for his supporters--innocent until proven guilty. Moreover, a lot of moderates assume "innocent until proven guilty" is the default position.
Farmgirl1961
(1,493 posts)n/a
keithbvadu2
(36,360 posts)Did the companies who 'donated' take a charitable deduction for the payments?
That would be fraud right there because they received value for their money.
jmowreader
(50,447 posts)Y'see, Trump is such an altruistic fella he does all his work for free, working his stumpy little fingers to the bone for the good of the common man. He'd NEVER ask for a cent because he does things out of the generosity of his yooge heart. Because he toils without any hope of compensation, he's a poor but honest man...kinda like Mahatma Ghandi if Ghandi was the color of a cheeto.
The power of Trump's purity of essence naturally motivates people to donate the money they might have paid him if he was a lesser man to a tax-deductible charity instead.
Because Trump is a pauper, it is completely legal and fitting for charity to give money to enable the poor man to have a modest roof over his head, nourishing food to eat and clothing to protect him from the elements as he stands outside washing windshields to earn cigarette money.
It's all perfectly above board. His personal accountant, Harold Bornstein CPA, says his impoverished client would never do anything wrong, and if Trump's accountant says this scheme (which at first glance dwarfs the scandal that sent Al Capone to Al Catraz) is on the level who are you to argue.
keithbvadu2
(36,360 posts)PearliePoo2
(7,768 posts)Trump needs ALL the Federal's microscopes up his ass, starting today.
red dog 1
(27,647 posts)tinrobot
(10,848 posts)I bet stuff like this is the tip of the iceberg.
lamp_shade
(14,796 posts)JunkYardDogg
(873 posts)About 10 days ago, David was on Mark Thompson's Sirrius radio show & listed some of the sources of the donations to the Trump Foundation.
He started with $5 million from Vince McMahan/WWE in 2007 and did not elaborate- I checked and saw that that Trump was in the 2007 WrestleMania 23 show- and I figured that this was his payment. I called into the show, & told David about this. After that, I got to thinking about this, did a bit more research, and I have sent David 2 emails saying that he should concentrate his research into this, that of Trump diverting payments for his services & work into the Foundation in order to avoid paying taxes on the money.
Well,it looks like this is the direction David is pursuing, I think this a serious deal, a lot bigger than just a $20,000 painting
maryellen99
(3,781 posts)The McMahons have been the biggest donors to his foundation.
ailsagirl
(22,837 posts)Aren't the authorities keeping a close watch on him?? I just don't get it.
And it makes me boil
Cosmocat
(14,543 posts)My guess is that most of this is only coming to light because of his exposure to running for POTUS.
It is out, but it takes a lot of time for a potential prosecutor to decide to try to pursue it then actually start investigating to be able to get to the point where charges are submitted.
I suspect that, god willing the jackass loses, he will be up to his neck in charges from the foundation by early next summer. Don't forsee it happening if he wins.
EITHER WAY, if this was anyone else, this and/or the russian connections would be absolute death kneels for their campaign.
turbinetree
(24,631 posts)while the scammer in chief is using his depreciated 757-200 ac to toodle around the country, he has to have a secret service protection right?
Well the said 757-200 only has 40 seats on board, so he is charging the tax payers so far 1.6 million, and putting that money into his business----------------------got that!
There is not enough room for all of the secret service personnel------got that .
So he is already billing the tax payers too continue the scam, you know that little thing called transparenacy
here ya go folks, don't just love paying for a fraud racist bigot
http://www.politico.com/story/2016/09/donald-trump-secret-service-campaign-travel-payments-228553
http://www.slate.com/blogs/the_slatest/2016/09/23/secret_service_is_paying_donald_trump_for_airfare_while_providing_campaign.html
renate
(13,776 posts)The shenanigans with his foundation are starting to make the results of tonight's debate--whatever they may be--seem less and less important.
Of course he will still have his army of knuckle-draggers and poo-flingers, but normal people who simply haven't been keeping up with politics till now can still change their minds.
Cosmocat
(14,543 posts)This is bad, REALLY bad, like he will likely be neck deep in charges for it by next summer and probably found guilty, too.
However, this has been out long enough and while some media outlets are reporting it, the chattering class has had no interest in talking about it, and frankly I don't forsee the country giving a shit.
Me and you and anyone supporting Hillary will hate it, he won't lose a single supporter over it, and mindless dolts who somehow don't see the importance of getting behind the only candidate worth having the office don't have the first level of urgency to this election to have this move the needle much.
lamp_shade
(14,796 posts)SunSeeker
(51,367 posts)sweetroxie
(776 posts)They tried to get him on lots of charges, but finally got him on tax evasion.
Hekate
(90,189 posts)cstanleytech
(26,080 posts)In case you were unaware of it tax fraud is a serious offense, just ask Wesley Snipes.
Hekate
(90,189 posts)Gothmog
(143,998 posts)ffr
(22,644 posts)Uh-oh. Do we have a cell bed next to Bubba ready for him?
red dog 1
(27,647 posts)"How Do You Report Suspected Tax Fraud Activity?"
http://www.irs.gov/individuals/how-do-you-report-suspected-tax-fraud-activity
Then, we should all contact President Obama, and ask him to direct Internal Revenue Service Commissioner John Koskinen to please audit Donald J. Trump's tax returns for the past 5 years, because there is evidence that he is a tax cheat.
CALL THE PRESIDENT:
White House Comment Line:
202-456-1111
E-Mail The President
http://www.whitehouse.gov/contact
If enough of us do this, they might actually DO something about this tax cheat!
(It can't hurt)
pansypoo53219
(20,906 posts)the con man is also a THIEF.
Skittles
(152,963 posts)and he has the GALL to call Hillary "crooked"?
Initech
(99,909 posts)catbyte
(34,165 posts)have to screw him into the ground. And half the voters in America support this sleazy POS.
The mind boggles.
Delmette
(522 posts)And the IRS is understaffed. There is probably one group to audit foundations, one for business and another for personal tax returns. No one has time or resources to cross check all entities against each other.
Under funded and understaffed thanks to Republican budget cuts.