Quantcast
Connect with us

Democrats may demand Trump’s business tax filings — which could reveal shady schemes and entanglements

Published

on

President Donald Trump takes a moment before taking the stage during a Memorial Day ceremony at Arlington National Cemetery in Arlington, Va., May 29, 2017. (DOD photo by U.S. Air Force Tech. Sgt. Brigitte N. Brantley)

Some Democratic lawmakers want more than just President Donald Trump’s personal tax returns, as they seek to untangle his apparent conflicts of interest.

House Democrats are preparing a request for the president’s personal tax filings, but some lawmakers want to demand Trump’s business tax filings — which they suspect may uncover suspicious ties to Russian interests and potentially unlawful efforts to avoid paying taxes, reported Politico.

ADVERTISEMENT

That would open a new, even more sprawling front in the mounting investigations into the president, whose financial disclosures reveal more than 500 partnerships and other types of business, which each would likely have its own tax returns.

Democrats could also demand returns from Trump’s trusts, one of which reimbursed former attorney Michael Cohen for hush money payments to Stormy Daniels, according to a check he showed lawmakers.

They could also ask for first lady Melania Trump’s returns, the website reported.

The recently dissolved Trump Foundation, which New York’s attorney general said had engaged in a “shocking pattern of illegality,” would have its own tax filings, although much of those are already publicly available.

Some lawmakers want House Ways and Means Chairman Richard Neal (D-MA), who has the power to seize Trump’s returns under an arcane statute, to issue a broad request covering years’ worth of returns, but other Democrats prefer requesting just a sample of the president’s returns.

ADVERTISEMENT

Neal hasn’t said much about what he plans to do, and other Democrats on the panel have given conflicting accounts on whether the chairman might request Trump’s business tax returns or focus only on his personal returns.

It’s also not clear how many of Trump’s old returns remain on file with the government.

The IRS typically gets rid of individual returns after six years, but keeps corporate returns for 50 years and estate tax filings for 75 years.

ADVERTISEMENT

Trump probably won’t file his 2018 returns until later this year, as wealthy people often wait until October to do because collecting tax information from business partnerships can sometimes take months.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Rudy Giuliani recently asked Trump to pre-emptively pardon him in case he’s charged with a crime: report

Published

on

On Tuesday, The New York Times reported that outgoing President Donald Trump's attorney and ally Rudy Giuliani has discussed the possibility of a pre-emptive pardon with the president, in case he is charged with federal crimes down the road.

"It was not clear who raised the topic," said the report. "The men have also talked previously about a pardon for Mr. Giuliani, according to the people. Mr. Trump has not indicated what he will do, one of the people said."

Continue Reading

Breaking Banner

We’ll be learning bad stuff about Donald Trump for years

Published

on

The media may not have to quit their addiction to President Donald Trump anytime soon.

The nature of presidential record-keeping, and Trump's habit of ripping up documents and making enemies of his staffers, should ensure a steady flow of shocking news about the Trump administration long after he finally leaves the White House, wrote journalist Timothy Noah for The Atlantic.

Continue Reading
 

2020 Election

Trump baffled by vaccine hold-up because he has the ’emotional make-up of a small child’: CNN

Published

on

Reporting on a planned White House task force meeting on Tuesday where FDA head Steven Hahn is expected to provide an update on the availability of the COVID-19 vaccine, CNN's John Harwood said officials in the government are having to fend off a pestering Donald Trump.

According to CNN's Jim Sciutto, Trump is "upset" that the vaccine hasn't been released to the public yet because he doesn't understand the complexity of the massive public health project and why the FDA hasn't approved the vaccine's release.

"This is not the first time we've been concerned about the president interfering, perhaps with an eye towards politics, to the scientific questions about vaccine approval. What do we know?" Sciutto asked.

Continue Reading