Tuesday, October 2, 2018

Trump committed fraud in tax schemes, New York Times says



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Trump Engaged in Suspect Tax Schemes as He Reaped Riches From ...


https://www.nytimes.com/interactive/2018/.../donald-trump-tax-schemes-fred-trump.htm...
2 hours ago - The president has long sold himself as a self-made billionaire, but a Times ... Much of thismoney came to Mr. Trump because he helped his parents dodge taxes. ... Records indicate that Mr.Trump helped his father take improper tax ... for helping his parents evade taxes, because the acts happened too ...

Trump helped parents shield millions from taxes: New York Times ...


https://www.reuters.com/...trump-taxes/trump-helped-parents-shield-millions-from-tax...
2 hours ago - U.S. President Donald Trump engaged in tax schemes that included cases of ... he and hissiblings helped their parents dodge taxes, the New York ... During his presidential campaign, Trumppromoted himself as a self-made ...

Trump Engaged In 'Outright Fraud' To Help Family Save Hundreds Of ...


https://www.huffingtonpost.com/.../donald-trump-tax-fraud_us_5bb3d403e4b0876ed...
56 mins ago - The Times alleges that Trump set up a fake corporation to disguise millions of dollars in gifts from their parents. ... fraud in which he and his siblings helped their parents dodge taxes, the New York Times reported on Tuesday. ... During his presidential campaign, Trump promoted himself as aself-made real ...
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Trump committed fraud in tax schemes, New York Times says


https://www.cnbc.com/.../trump-committed-fraud-in-tax-schemes-new-york-times-say...
2 hours ago - Trump and his siblings in part "set up a sham corporation to ... he helped his parents dodge taxes and boost the money he got from ... The findings contrast with the story Trump has always told about himself – that he built up ...

POLITICS

Trump committed 'outright fraud' in 'dubious tax schemes,' according to a big, new investigation from The New York Times

  • President Donald Trump committed "instances of outright fraud" to increase the value of gifts he received from his parents, according to a New York Times investigation.
  • The alleged tax schemes described in the article largely took place in the 1990s.
  • A lawyer for Trump denied any allegations of fraud or tax evasion to the Times.
Donald Trump and Fred Trump in December, 1987.
Ron Galella | WireImage | Getty Images
Donald Trump and Fred Trump in December, 1987.
President Donald Trump committed "instances of outright fraud" as he helped his parents dodge taxes and boost the money he got from them, according to a detailed New York Times investigation published Tuesday.
The president received today's equivalent of $413 million from the real estate holdings of his father, Fred Trump, the newspaper reported, citing a "vast trove of confidential tax returns and financial records." The findings contrast with the story Trump has always told about himself – that he built up wealth and success after only getting a small loan from his father.
Trump and his siblings in part "set up a sham corporation to disguise millions of dollars in gifts from their parents," according to the Times. The article notes that tax experts say the president would be unlikely to face criminal charges related to the conduct because of how much time has passed since much of it took place in the 1990s.
Trump's White House has been a money-making machine
Trump's White House has been a money-making machine  
In a statement to the Times, Trump lawyer Charles Harder denied any allegations of fraud and tax evasion and said "the facts upon which The Times bases its allegations are extremely inaccurate." White House press secretary Sarah Huckabee Sanders also backed up Trump's claims about his wealth to the newspaper. She said he took a $1 million loan from his father and paid it back.
One of the most eye-popping details in the story deals with how much money Trump was making when he was a child:
By age 3, Mr. Trump was earning $200,000 a year in today's dollars from his father's empire. He was a millionaire by age 8. By the time he was 17, his father had given him part ownership of a 52-unit apartment building. Soon after Mr. Trump graduated from college, he was receiving the equivalent of $1 million a year from his father. The money increased with the years, to more than $5 million annually in his 40s and 50s.
The White House did not immediately respond to CNBC's request to comment. The IRS declined to comment.

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