TPM: Trump Could Be in Big Trouble

[MyNameIsKhan]

http://talkingpointsmemo.com/edblog/trump-could-be-in-big-trouble

Our reporter Tierney Sneed spent the day reporting on the latest information on the Trump Foundation. We now have clear evidence of self-dealing in the payouts made by the Foundation and as of yesterday pretty clear evidence that Trump has used the Foundation to avoid paying taxes on income. The combination could spell real legal trouble for Trump, possible even criminal penalties. In short, you're not allowed to use a family foundation as a piggy bank or slush fund for tax avoidance and personal or business purposes. We've proceeded cautiously in what we know and what we don't. We've also tried to be cognizant of the fact that this is an area of criminal law where intent is critical - which is to say, ignorance of the law is a defense. That said, one top former IRS official involved in oversight of tax exempt organizations told TPM, "Once you see a pattern of that kind of egregious nature, you start to think if whether there’s an appropriate criminal referral there." Here's the story.

[Maeve]

1. Couldn't happen to a more deserving conman!

[C_U_L8R]

2. Three days to October

There's this and whole lot more still to drop on Donald's head.

[MyNameIsKhan]

3. Washington Post will come with another damaging story hopefully.

They are doing awesome job...

[Bernardo de La Paz]

6. WaPo said basically the same thing: slush fund, double dealing, criminal tax dodge. . . . nt

[madaboutharry]

4. In other words,

Trump's foundation is a sham. It's a tax evasion scheme.

Also, a sign that this story is scaring them is that they are attacking the reporter from The Washington Post.

[MyNameIsKhan]

5. Slush fund !!! managed by con man

[ALBliberal]

7. As CPA specializing in tax for 30 years

This would be an IRS agent's dream audit. I will deeply disappointed if the IRS doesn't open up some audits on Trump his businesses his kids and of course the foundation.

[MyNameIsKhan]

9. How can IRS open books again? Is there any rule once audit is closed they have statue of limitation

of 3 years

[unblock]

10. my understanding is that they can only *initiate* an audit on the last 3 years

but if they find something suspicious, they can go back much longer, maybe something like another 10 years.

[ALBliberal]

13. You are correct

Three years from filing date is normal "statute of limitations". However there is no statute of limitations for fraud.

The Trump family and their businesses and foundation are very exposed for audit. They should all be very worried as should their CPAs and tax attorneys.

[Gabi Hayes]

19. LOCK. THEM. UP!

[MyOwnPeace]

23. YES!

Campaign signs:

TRUMP FOR PRISON
2016


(Hmmmmm, wonder where I got that idea?)

[JHB]

42. We already know he likes orange.

[Angry Dragon]

70. !!YES!!

[MyNameIsKhan]

21. Yes thats what I thought as this is a fraud, IRS had no idea of this conduit.

[ALBliberal]

25. A billionaire cheating the government out of sheer greed. Sad!

[Wounded Bear]

53. We haven't really established that he is a "billionaire"

[ALBliberal]

60. True and if he is he cheated his way there.

[Ligyron]

43. I think they'll make you agree to an extension for 10 years

otherwise they'll just deny all your exemptions.

[eShirl]

8. The adult kids are neck deep in it too, aren't they?

[Wounded Bear]

55. Probably, it is most likely their trust fund...nt

[a kennedy]

11. Ha!! Next debate the battle of the Foundations!!!!!

and we ALL know she'll be able to kick his arse on this debate.

[MyNameIsKhan]

22. She will have people that foundation has helped with her

Who knows if Justice Dept and IRS opens an investigation...

[SHRED]

12. If we didn't live in an Oligarchy

Then yes...maybe.

[displacedtexan]

14. Ignorance is a defense? Isn't Trump the most brilliant businessman ever?

He would have to admit that he was "too stupid" to understand that he couldn't break the law for several decades by using his foundation to evade taxes and buy himself crap paintings and flagpoles?

[ochem]

15. who

would open this Criminal Investigation?

[kimbutgar]

16. If the irs or justice department goes after him he will scream it's a partisan attack

The public needs to start being mad about this.

[MyNameIsKhan]

33. That is the biggest problem, we need to make public aware then bring on a investigation...

[Astraea]

17. this should be on every network, nonstop,

whenever Trump's name is mentioned. This is a MAJOR issue, and people who are electing the next President of the United States should know about it.

[Gabi Hayes]

18. show this to David cay Johnston.....nobody outside the TFEE knows more about his finances

than he does

didn't this come up at debate? I no watch

[Madam45for2923]

47. Yes! But David Cay Johnston knows already! here his twitter account.

https://twitter.com/DavidCayJ?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor



David Cay Johnston
?@DavidCayJ David Cay Johnston Retweeted #MediaHasFailedUs
I think you mean the tax of evasions that I dug up as well as Bill Bastone & Wayne Barrett long before xlent WashPost reports

https://twitter.com/DavidCayJ/status/780776132010475520


I also like him. Read his 2016 book on Trump: The Making of Donald Trump

[SleeplessinSoCal]

20. The Clinton campaign needs to hammer the Russian hacking.

We can count on more from them and Assange. Isn't it wise to expose them to a wider audience first? A national audience and not just liberal websites?

[ProudToBeBlueInRhody]

24. No offense, but everyday there seems to be this proclaimation

The rich and the Republicans NEVER PAY FOR ANY MISDEED.

[phallon]

26. MSM News will surppress, like his taxes

[MyNameIsKhan]

30. I think Washington post will come with another news very soon, they have full data, this is not like

Oh every week investigation being reported... this dude is fucked.

[Sunny05]

27. Whoa. nt

[Gothmog]

28. Trump has committed tax fraud and needs to prosecuted

[Hortensis]

71. No wonder these people don't like liberals. :)

Prosecuting the wealthy and powerful is definitely a down side for them of the intensely liberal principle that "all men are created equal."

Criminals should not run for president, even billionaires, making quiet settlements with the government impossible. Just more indication of Trump's obvious mental dysfunction. Bet his heirs have been sleeping badly for a long time now...

Hubris.

[CajunBlazer]

29. K&R

[trueblue2007]

31. HERE IS THE STORY .... HERE IS THE OTHER LINK

HERE

http://talkingpointsmemo.com/dc/trump-income-charity-tax

A new Washington Post report this week presented cases where Trump directed third parties to pay monies owed to him or his businesses directly to the Donald J. Trump Foundation--monies that arguably should have been taxed as income to Trump.

The Trump campaign has said that the payments were all aboveboard and proper, and slammed the Post's reporter for trafficking in speculation about possible but not proven legal problems. All of this comes against the backdrop of Trump refusing to release his tax returns, a stance unprecedented among modern major party presidential nominees. Without those tax returns, the exact handling of the payments and any associated taxes remains murky.

But tax experts interviewed by TPM said the new revelations by the Post include a number of red flags. At best, the practice could be described as sloppy and driven by an extreme ignorance of the law, the experts said. At worst, it fits into a pattern of using the charity as a personal piggy bank. On their own, such allegations could be dealt with a minor slap on the wrist, but coupled with the Post’s previously surfaced examples of Trump using foundation money for his own benefit they fuel major concerns about how Trump’s charity has operated.

[MyNameIsKhan]

32. Here is more...

One former IRS regulator told TPM that, taken all together, the financial dealings surrounding the foundation would have forced him to “give some serious thought” to recommending a criminal investigation into the foundation’s practices.

“Once you see a pattern of that kind of egregious nature, you start to think if whether there’s an appropriate criminal referral there,” said Philip Hackney, a Louisiana State University Law Center professor who previously served in the IRS’ Office of the Chief Counsel as a senior technician reviewer for exempt organizations.

[pansypoo53219]

34. who's crooked?

[MyNameIsKhan]

35. Sniffing liner DON

[Bucky]

36. But he'd only know it was criminal if he were constantly under the advice of tax lawyers

oh... wait...

[Madam45for2923]

48. Aha!

[Rezzi1945]

37. Drumpf's tax scandal

Drumpf 's comment that he's smart coz he didnt pay taxes was a stinging insult and verbal abuse to the tens of millions of hardworking Americans who earn far less than he does but still somehow manage to pay taxes... it proved that he's unfit to serve as POTUS!!...

[MyNameIsKhan]

38. Con man ... How will he rest in peace ever

[UCmeNdc]

39. Where is the FBI?

No investigation? Why?

[Hekate]

40. Love the last sentence in your quote. It's Schadenfreudelicious.

[Sunlei]

41. didn't he transfer foundation to his son? Anything criminal will take IRS 30+ years to figure out.

election will be decades over and senior trump gone, died from old age by then.

[Ligyron]

44. Oh, but he's just "starving the beast", doing his part

and his fans will love him for it.

[bigbrother05]

45. Having personal and/or business income sent to the foundation is a double dip tax ploy

The payer can write off a charitable contribution at 100% vs. listing it as a business expense. Trump avoids paying any taxes on the income, but appears to have gotten direct benefit from the Foundation paying personal and business debts out of their funds. Looks like a lot of potential for forensic accountants to rip him, his businesses, and the foundation to shreds.

Sounding like RICO charges beyond the tax issues. Pablo Escobar thought he was smart too.

[treestar]

46. Watch the M$M have zero interest

[napkinz]

49. they would had the story been about Hillary

[treestar]

52. Exactly! 24 hours per day of

breathless wondering "will this sink Hillary's chances?"

[dae]

50. Not paying taxes makes him smart says the talking jackass.

[vi5]

51. Nothing is going to change his voters/fanboys minds at all...

Everything that comes out is just a lie from the liberal media and "the haters".

I'm not saying it shouldn't come out and be reported on, I just wouldn't count on it having any impact on his voters or his numbers or the polls or whatever.

[Wounded Bear]

57. Not the target audience anyway...

You're right, they won't care, and will probably think of it as some kind of bizarre positive.

It's the middle, undecideds that need to have this info force fed to. Trump is obviously a crook, and that needs to be proven in the press.

[ginnyinWI]

54. Tax evasion is what got Al Capone!

The "Trump Family Crime Organization".

[onlyadream]

56. Yes, great and all, but why now?

If Trump has been audited none stop, shouldn't this have come out years ago? Was there a payoff for a blind eye?

[lonestarnot]

58. October in 2 days.

[TonyPDX]

59. Only us "little people" are held accountable these days. IMHO he'll never pay for laws broken.

[Nitram]

61. I hope one of the many investigations bears fruit before the election.

[bucolic_frolic]

62. They never go after Big Fish

Only for insider trading, and then only when they look hard and
it's not a good ol' boy Wall Street favorite.

Are any Bankster Gangsters in jail? What was the last one, one of the
Enron understudies? Did Ken Lay do time? The Keating Five Senators?
Worldcom? And any of those were for financial crimes. Charitable entities
have more leniency. Chris Christie is still in office.

They bagged very few. Senator Harrison Williams in Abscam, a Democrat.
Martha Stewart. The former Kmart CEO Conaway got off for a fine I think.

So I'm not optimistic this Foundation investigation is going anywhere.

[MyNameIsKhan]

63. Unfortunately that is true...

Any investigation will happen after elections.

[strategery blunder]

67. They do go after rich people for scamming other rich people sometimes.

Bernie Madoff was an example.

Trump effectively blew up the Republican party electorally by exposing its basket of deplorables for all to see. The party insiders (who include a lot of elite CEO types) are not very happy with him about that.

I'd not be surprised to see Trump "allowed" to become a sacrificial lamb to appease public anger about the inequality of justice in America. They might actually be willing to throw him under the bus and allow the DoJ to do its job.

[bucolic_frolic]

69. Political will and calculations will be a factor

Madoff was a financial crime, and too widespread to ignore.

I think Trump would get the deference usually afforded to the rich,
a fine and slap on the wrist. To go full throttle would be viewed as
too partisan. Or maybe I'm just too cynical, we'll see how it plays out.

This stuff sounds like Leona Helmsley. She got caught by subcontractor billing
to her hotels for work on her home. Contractors had - guess what? - difficulty
collecting their payments.

Ironically the US Attorney prosecuting that case was - Rudy Giuliani.

https://en.wikipedia.org/wiki/Leona_Helmsley

[Kablooie]

64. Boy. The right wing howling will be deafening if this falls out before the election.

[UCmeNdc]

65. This needs to become an official investigation.....

before the election

[ailsagirl]

66. I hope so, but nothing ever seems to happen

Maybe this time it'll be different

[StevieM]

72. That is exactly what I was thinking. (eom)

[ailsagirl]

73. I'm hoping that the Powers That Be (FBI and whoever else) are planning something

but are keeping it quiet. Then... POW

[Jim Dandy]

68. Lock his big butt up