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Government Corruption

Trump Organization under tax investigation — report

2021-10-21

[DW] US media reports that Trump National Golf Club's finances are under scrutiny, with a probe launched into whether it has misled a valuation for tax purposes.

Former US President Donald Trump

...The tack in the backside of the Democratic Party...
's family business, which is already under indictment, now faces another investigation, according to a report published in The New York Times

... which still proudly displays Walter Duranty's Pulitzer prize...
on Wednesday.

Citing sources with knowledge of the matter, the publication reported that finances at a golf course The Trump Organization owns are under scrutiny.

WHAT DID THE REPORT SAY?
The district attorney's office is understood to have subpoenaed financial records from the Trump National Golf Club in Westchester.

Records from the town of Ossining, which administers the areas taxes, have also been requested, the report states.

According to the publication, the investigation is being led by District Attorney Mimi E. Rocah,

...US prosecutor under President Obama. When she was running for West Chester DA as a Democrat her top issue was DONALD TRUMP!!! But really, she’s just a Hillary fangrrrl...

and centers around whether Trump's company submitted misleading valuations of the golf course, in order to benefit from a lower tax threshold.

The Trump Organization said in a statement that the investigation was politically motivated and labeled it a witch hunt.

"The suggestion that anything was inappropriate is completely false and incredibly irresponsible," the statement said. "The witch hunt continues."

This is not the first criminal probe to be launched against Trump's family business.

In July, the Trump Organization, which is an unlisted family holding company that owns golf clubs, hotels and luxury properties, was charged with tax crimes, along with Trump Payroll Corporation and its Chief Financial Officer Allen Weisselberg, in a tax avoidance scheme.

According to the indictment from 2005 through this year, Weisselberg and the Trump Organization cheated the state and city out of taxes by conspiring to pay senior executives "off the books."

TRUMP'S TAX CONUNDRUM
While Trump himself was not implicated in that indictment, the former president has been in a long-running battle to prevent handing over his tax returns and financial records to prosecutors.

In July, the Justice Department ordered the Internal Revenue Service (IRS
...the Internal Revenue Service; that office of the United States government that collects taxes and persecutes the regime's political enemies...
) to hand his tax records over to Congress.

The New York Times reported in September 2020 that Trump paid just $750 (€644) in federal income taxes in 2016, the year he ran for president, and in 2017, his first year in the White House.

He also paid no federal income taxes in 10 out of 15 years because he reported losing more money than he made, the report said.

Real estate investments are legally structured to lose money on paper due to depreciation of the improvements that will be recaptured as taxable profits when the property is sold. This is normal, and the reason why doctors invest in strip shopping malls,

At the time, Trump dismissed the accusations as "totally fake news."

Not so much fake as displaying an embarrassing level of parochial ignorance on the part of the journalists and those who believed them.

Posted by:trailing wife

#7 in a tax avoidance scheme

Anybody who claims a deduction is engaged in a tax avoidance scheme.

It's common to describe Congresscritters by their state and party affiiation, e.g., Pelosi, D-Calif. Instead the description should include gross income and taxes paid. E.g.: Pelosi, D-Calif-none of your business, peasant- taxes are for little people.

Posted by: Matt 2021-10-21 13:31

#6 Every large organization in business is under a tax investigation or review of one sort or another. This is day to day business for a billion dollar business.

Posted by: 49 Pan 2021-10-21 13:09

#5 Still trying to crush Trumpism.

Posted by: Bobby 2021-10-21 11:04

#4 ...and centers around whether Trump's company submitted misleading valuations of the golf course, in order to benefit from a lower tax threshold.

If I'm Trump and the city asks me for a valuation of my property, am I gonna hire the appraiser that gives me a high valuation or am I gonna hire the guy who gives me a low one? Pretty weak justification for an audit / audit like activity, if you ask me.

Posted by: Raj 2021-10-21 09:46

#3 Pay no attention to the little man behind the ~~curtain~~ crackpipe!

Posted by: Merrick Ferret 2021-10-21 03:16

#2 They're trying to drive him nuts.

Posted by: Besoeker 2021-10-21 02:59

#1 The Federal Government is a now a full blown Banana Republic.

Posted by: Blackbeard Barnsmell6454 2021-10-21 00:14

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