Trump appears to have committedTax Fraud

Sapidus

Well-Known Member
It seems we now know why Trump didn't want to publish his tax returns.

He sold two Condos to his son at a discounted rate without paying the gift tax.

This is probably keeping Mueller very busy

From Mediate instead of Wapos's pay wall.


"Based on New York City property records, Trump paid $13,000 in taxes related to the two sales, which indicates that he didn’t treat the transactions as a gift and likely didn’t pay those taxes. And, as the attorneys further explained, this could lead to fines or even possible jail time.

Willful failure to file a tax return, including a gift tax return, is a misdemeanor, punishable by a $25,000 fine, imprisonment of up to one year or both. Fraudulent failure to file — meaning an overt act of evasion — may elevate willful failure to a felony. That carries a fine of up to $100,000, imprisonment of up to five years or both, along with the costs of prosecution."

https://www.mediaite.com/online/did-trump-commit-tax-fraud-these-two-lawyers-think-so/
 

PJay

Well-Known Member
why not just do a colonoscopy and be done with. Your noses are already sniffing for anything and all drooling to find something.
 

PsyOps

Pixelated
I'll patiently wait for the indictment, conviction, and subsequent impeachment.

Smoking gun! :ohwell:
 

PsyOps

Pixelated
"Based on New York City property records, Trump paid $13,000 in taxes related to the two sales, which indicates that he didn’t treat the transactions as a gift and likely didn’t pay those taxes.

Wait! What? He paid the tax (according to records), but didn't pay the tax? How does that work exactly?

Oh, there it is... that preponderance of evidence........... "he likely didn't pay those taxes" even though records who he did pay the taxes. :crazy:
 

Sapidus

Well-Known Member
Wait! What? He paid the tax (according to records), but didn't pay the tax? How does that work exactly?

Oh, there it is... that preponderance of evidence........... "he likely didn't pay those taxes" even though records who he did pay the taxes. :crazy:

A gift tax is a separate tax which requires a additional form. The taxes on the value of that real estate would be much more than $13,000 ( $350,000) hence the likehood that he didn't report it as a gift.
 

hotbikermama40

New Member
A gift tax is a separate tax which requires a additional form. The taxes on the value of that real estate would be much more than $13,000 hence the likehood that he didn't report it as a gift.

...hence the likelihood of you being a fart smeller
 

Bird Dog

Bird Dog
PREMO Member
Scandal du' jour.........can't wait until next week......I love the word appears....misdemeanors and high crimes...........
The corrupt press are still looking.....11 months and counting
 

vraiblonde

Board Mommy
PREMO Member
Patron
A gift tax is a separate tax which requires a additional form. The taxes on the value of that real estate would be much more than $13,000 ( $350,000) hence the likehood that he didn't report it as a gift.

Except for the part where if he sold them, it wouldn't have been a gift.
 

This_person

Well-Known Member
That's why reading articles prior to commenting is so important. If you gift it for less than the true value you must still pay taxes on the true value.

So, he sold property, paid tax on what was paid for the property, and someone comes along and suggests that maybe possible it could be that he may have gifted some of it (the part that wasn't sold?) because it could possibly have been worth more than what was paid, and that could mean that maybe he owed more taxes. This was discovered during a check of whether or not people in his campaign colluded with the Russians and committed a crime, though not a single person yet anywhere at any time has suggested what that crime would be.

Whew, that's some solid #### right there.
 

SamSpade

Well-Known Member
APPEARS

I thought Mueller was investigating Russian links.


I do have to admit though - I do now kind of get why people were pissed at Ken Starr in the 90's, when he began investigating Whitewater and ended up with a blue dress.
Even though at the time, it kind of pissed me off that the Clintons sure seemed to be steeped in scandal left and right and were getting away with it, that pretty much anything was good to see.
I mean, the Rose Law firm records just "appearing" on a coffee table long after they'd been lost or unable to be found seems to be along with "you mean, with a cloth?" kind of stunt or "we were just talking about our grandkids " kind of innocent story.

I think ultimately I am going to be pissed if people end up being jailed or prosecuted because of their testimony without an actual crime having to do with anything.
I don't get how that happens.
 

h3mech

Active Member
fake news


It seems we now know why Trump didn't want to publish his tax returns.

He sold two Condos to his son at a discounted rate without paying the gift tax.

This is probably keeping Mueller very busy

From Mediate instead of Wapos's pay wall.


"Based on New York City property records, Trump paid $13,000 in taxes related to the two sales, which indicates that he didn’t treat the transactions as a gift and likely didn’t pay those taxes. And, as the attorneys further explained, this could lead to fines or even possible jail time.

Willful failure to file a tax return, including a gift tax return, is a misdemeanor, punishable by a $25,000 fine, imprisonment of up to one year or both. Fraudulent failure to file — meaning an overt act of evasion — may elevate willful failure to a felony. That carries a fine of up to $100,000, imprisonment of up to five years or both, along with the costs of prosecution."

https://www.mediaite.com/online/did-trump-commit-tax-fraud-these-two-lawyers-think-so/
 

Hijinx

Well-Known Member
fake news

Does anyone believe Trump does his own taxes?
Does anyone know that you have to pay taxes because you sold your son a property at a discount?
Has anyone here ever given anything to their son at a discount rate.? (Boy that should be punishable by law.)

Of course Trump pays people to figure things like this out.
If there was a mistake made I am sure he will correct it. ( He has to., what choice does he have?)
Seems Mr. Mueller and all of his Democrat lawyers are digging deep.
 

Ken King

A little rusty but not crusty
PREMO Member
Maybe Trump applied that "gift" to his lifetime exclusion. From the IRS -
6. Each Donor Has a Lifetime Exemption

This refers to the total amount that an individual can give away during their entire lifetime. If your gift exceeds the $14,000 annual threshold, it must be reported as a taxable gift on Form 709 — however, that doesn’t necessarily mean you’ll have to pay the gift tax. Instead, you can apply the gift towards your lifetime exclusion from the Federal estate tax.

The “basic exclusion” (also known as the “unified credit”) represents both the lifetime gift tax exemption and the estate tax exclusion, signified as a total amount of $5.34 million. The current law allows individuals to give away up to $5.34 million over their lifetime without having to pay gift or estate taxes.

But keep in mind; any portion that’s used to avoid the gift tax reduces the amount that will be exempt from estate tax. For example, if you used $2 million of the exemption to make taxable gifts during your lifetime, you will only be able to exclude $3.34 million from the estate tax. If you surpass the $5.34 million limit, you (or your heirs) will have to pay up to 40% tax.
Or maybe the sale was through his corporation -
4. You May Need to File a Gift Tax Return (Form 709)

In general, you must file a Federal gift tax return (IRS Form 709) if you gave someone more than $14,000 during the year. In some cases, you are required to file Form 709 even if your gift was below the $14,000 annual exclusion. Note that only individuals are responsible for filing gift tax returns — corporations or trusts that make gifts will pass the filing and payment responsibilities onto their individual stockholders or beneficiaries. Additionally, a married couple cannot file a joint gift tax return.
And one more thing, as no one other than the IRS has seen the tax filings of Trump, is it known, versus suggested, that he didn't pay the tax?
 
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