Congress, Constitutional Law, Criminal law, Politics

Report: Trump Tax Documents Show “Major Inconsistencies”

President Donald Trump has steadfastly refused to release his tax documents and is continuing litigation in both D.C. and New York despite rulings against him to bar the disclosures of prosecutors or congressional committees. Now, ProPublica has reported that it was able to review tax and loan documents for New York properties that show disturbing major discrepancies in reported expenses and profits.

The two most concerning discrepancies involve 40 Wall Street and Trump International Hotel and Tower. Notably, Trump was running for president when these properties were refinanced and they have glaring conflicts. On the first property, 40 Wall Street, Trump reported to the lender that he had a 58.9 percent occupancy on Dec. 31, 2012 but then increased occupancy levels to 95 percent a few years later. However, when tax documents were filed, they reported an 81 percent lease figure on Jan. 5, 2013. There were other discrepancies the report of costs and other figures.

Likewise, on the Trump International Hotel and Tower, Trump reported rental incomes as $1.67 million in 2017 but then lowered the reported income for tax documents to $822,000.

The unrelenting opposition to the release of tax documents has fueled speculation that Trump is hiding such discrepancies or, alternatively, is trying to hide disclosure of a lower net worth than claimed publicly.

There may be defenses for different figures being reported but on its face it could raise questions of tax fraud. This in turn raises the concern of whether the effort to withhold tax documents is part of a strategy to run out the statute of limitations. The IRS audit tax returns up to three years after the filing date but that period can be extended to six years in some limited cases (involving the misrepresentation of at least 25 percent of gross income). That would mean that Trump is near the outside limit of the statute of limitations if he has not already passed that limit. If it were determined that Trump was running out the clock, there could be a claim that this is conduct occurring during his presidency in obstructing congressional inquiries to conceal an alleged crime. In other words, it could open up yet another basis for alleged impeachable offenses.

125 thoughts on “Report: Trump Tax Documents Show “Major Inconsistencies””

  1. Eh. An org that doesn’t link to the actual docs really isn’t worth taking seriously.

  2. “Trump’s tax documents” should not even exist, as the IRS should not exist. It’s amazing how the forced imposition of communist principles in America began with “Crazy Abe’s” forced imposition of the classless society 13 years after Marx published the Communist Manifesto in 1848. “Crazy Abe” Lincoln won 1860 with 38.9% and 1864 with brute military force. His similarly despotic and illegitimate successors forced antithetical and unconstitutional “Reconstruction Amendments” down America’s throat under the duress of barbarous post-war military occupation, subsequent to the heinous act of total war against civilians that was Sherman’s March to the Sea, commencing the era of constitutional nullification leading up to the 16th Amendment (IRS) and paving the way for the funding of the American welfare state. Indeed, the entire American welfare state is unconstitutional given the absolute right to private property and the Article 1, Section 8 restriction on Congress to tax only for “…general Welfare…” not individual welfare and the restriction on Congress to regulate only “…money…” and “…commerce among the several States.” Ironically, the only way to impose communism in America was for “Crazy Abe” and then the Marxist Progressives to deny Americans the fullness of their rights, freedoms and immunities under the Constitution and Bill of Rights.

    The next time conservatives are in the majority, they must repeal the 13th, 14th, 15th and 16th et al. amendments in one fell swoop, privatize the welfare state and force the Constitution and Bill of Rights down “America’s” throat. If the Founders had intended generational welfare, affirmative action privilege, one man/one vote democracy and illegal invasion of “discordant intermixture” * they would have codified them in the Constitution of 1789. In fact, the Founders declined all of the above in their fundamental law and concurrent legislation.
    __________________
    *

    “The influx of foreigners must, therefore, tend to produce a heterogeneous compound; to change and corrupt the national spirit; to complicate and confound public opinion; to introduce foreign propensities. In the composition of society, the harmony of the ingredients is all-important, and whatever tends to a discordant intermixture must have an injurious tendency.”

    – Alexander Hamilton

  3. WILL TRUMP’S QUEST FOR TAX SECRECY..

    BE COMMENDED BY HISTORIANS?

    Here’s where Trump supporters go off reservation. Historians are not likely to describe Trump as heroic for withholding his tax returns. It doesn’t sound noble. Only a cynic could say Trump’s efforts to keep his taxes secret is a brave, moral fight.

    How would this play in a movie? Can you see Tom Hanks as a bold, gallant president defending his right to secrecy? As an audience-goer would that bring tears to your eyes? Of course not! Heroes don’t fight for selfishness.

    A billionaire president, with a far-flung business empire, can’t just tell the public, “My taxes are none of your business”.

    If it’s ‘none of our business, sir, go back to your business. Don’t feel you have to sacrifice by serving as President.

    The principle here is this:

    ‘We don’t want billionaires running their businesses from the Oval Office. And we don’t want presidents owning hotels 2 blocks from the White House. So any billionaire president refusing to show his tax returns needs to be cashed-out.

    2. HISTORIANS DO NOT CARE ABOUT TAX RETURNS

      find me a history which discusses American presidents’ tax returns. CItations.

      Moreover, there is no finding by any court of tax deficiency. So there are no FACTS to historicize about.

      I think historians do still concern themselves with facts, rather than mere innuendo and broadsheet scandal.

    3. “A billionaire president, with a far-flung business empire, can’t just tell the public, “My taxes are none of your business”.”

      Of course he can. His taxes are none of your damned business. Period. His returns have been examined by IRS, perhaps on multiple occasions, they are private, and should NEVER be brought as a weapon into a political campaign.

      We will make a huge mistake if we decide that income taxes are not private under any circumstances.

      Should NY obtain, and disclose, any Trump tax filing, he should restrain, on an emergency basis, the sharing of information under Section 6103 with NY State on the basis that they are not protecting taxpayer return information. They have no right to disclose such information. IF they want to guarantee its privacy (perhaps with a sizable bond) he should be willing to settle the lawsuit.

  4. You know what I think? I don’t think Prof Turley wrote this article. It sounds more to me like it was farmed out to a law student, or a very young lawyer. Because most lawyers are very under-educated when it comes to accounting.

    Here’s the thing. I don’t know whether Trump cheated or not. I have not seen the backup documents. But there is no way to determine that Trump is guilty of something simply because the numbers are different. It would be a rare company indeed where numbers are not different.

    I do not believe that an experienced lawyer would jump to “this is disturbing” based solely on superficial differences.

    That is my OPINION!

    Squeeky Fromm
    Girl Reporter

    1. Squeeky – I see you have switched back to your regular job of Girl Report. 🙂

          1. Paul

            Good one, but you missed the fact that there were many virgin berths last year. All of the new cruise ships had them.

            1. Don de Drain – nicely done. 😉 BTW, did you see that Disney got #1 for its big liners and #9 for it medium liners?

    2. Squeeky:

      “I do not believe that an experienced lawyer would jump to “this is disturbing” based solely on superficial differences.”
      *********************
      Query: Are all liberals “deeply disturbed” individuals?

      1. Mespo

        I’ll answer this, short answer, No.

        But the correct answer: It’s complicated.

        I really do see the Republicans as kind of your Overt Narcissist, and your Democrats, as kind of your Covert Narcissist. Coverts are way more dangerous.

        But there are some batshit ones mixed in there, on both sides, kind of like when Obama got elected, and then the Tea Party popped up…a.k.a., your batshit ones. AOC and the other 3, cray crays.

        Truth is, the masses don’t like extremes. They liked Trump bc he was different than the same shit, different toilet situation that we usually get where everyone Zzzzzz for 4-8 years.

        I think Trump in the political realm did a solid for getting more ppl interested in politics than ever before.

        I hang at Starbucks bc I’m a coffee addict and I live in a hell hole/shit hole drama fest, where I can’t get anything personal done, that’s probably TMI, but nonetheless, a lot of folks out there in Cali, are leaning for Warren over Kamala or Biden…well, at least in LA, I can’t speak for other areas of the state.

    3. Obviously, since there is no statute of limitations for tax fraud and Turley should have/would have know that, one would think.

    1. Benson, I looked at this thing you posted

      https://phys.org/news/2019-07-previously-unknown-mechanism-forest.html

      its interesting. I’m not sure this was entirely unknown or just a scientific confirmation of what gardeners believe.
      When I started my midwestern garden over a decade ago, a friend told me, “tired soils” need calcium supplements to hold water better, or something like that, and that I should use “vermiculite” to do so. Seems like it had something to do with acidity also. I can’t recall. My soil doesn’t seem to need it for what i grow and the mix of manure and pine needles and compost I habitually use to prepare the beds for next season. Which it’s about time to do again now.

      Perhaps that’s a related thing, or maybe not.

      1. Kurtz: if you really want to know what your soil needs to best support whatever you are planning on growing, contact your county extension office and give them a soil sample. They will test it and give you an analysis of your soil and amendments, if any are needed. It is a free service. Guesswork isn’t a good idea. Different plants may need different nutrients.

        1. thanks for the advice, trial and error has been good enough for tomatoes and various types of peppers. i have heard this advice before and just didn’t have time., maybe I will quit this blog and have more time for that. but dont get your hopes up.

    1. I watched the video and your reporting lack objectivity just like most of the fake news. Anyone who is interested, watch the video, don’t read remarks like this one and take them at face value.

    2. Yesterday brought 2 Trump disasters based on his arrogance and narcissism. He didn’t call these grieving parents to the White House to comfort or support them. He actually thought he could charm them out of pursuing legal action against the woman who ran down their son by brokering some sort of private apology. He didn’t warn them before they came that he had their son’s killer in the next room. This is so cold, insensitive and beyond the pale that there aren’t words. The Dunns were horrified. They want her returned to the UK to face charges. Why won’t Trump do this?

      He actually thinks that he has some magic powers in interpersonal relations, beginning with charm, and when that doesn’t work, intimidation. Next, he thought he could bully Nancy Pelosi. He came into the meeting and slammed down the file he was carrying. He is pissed off, in part, because 129 Republicans in the House joined Democrats in rebuking him for pulling US troops out of Syria. Pelosi isn’t a woman who can be bullied. When he didn’t get his way, he started the usual name-calling. Pelosi and Schumer weren’t having it, so they walked out.

        1. Peter no one believes you are anything but a grifter, a loser and you give gays a really bad name

      3. Natacha – surprisingly Boris Johnson asked Trump to bring them together. It wasn’t his idea.

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