"... but a decision that probably means the records will be shielded from public scrutiny under grand jury secrecy rules until after the election, and perhaps indefinitely. In a separate decision, the court ruled that Congress could not, at least for now, see many of the same records. The vote in both cases was 7 to 2. Chief Justice John G. Roberts Jr. wrote both majority opinions."
Writes Adam Liptak in the NYT.
Jay Sekulow, a lawyer for Mr. Trump, [said] “We are pleased that in the decisions issued today, the Supreme Court has temporarily blocked both Congress and New York prosecutors from obtaining the President’s tax records.... We will now proceed to raise additional constitutional and legal issues in the lower courts.”...
Posts
103 comments:
This is the Sarah Palin treatment.
Bullcrap. The minute the prosecutors get those records someone will leak them.
I have $100 that says that juicy bits will somehow...mysteriously...be leaked.
Resist! By any means necessary.
- Krumhorn
"The Supreme Court on Thursday cleared the way for prosecutors in New York to see President Trump’s financial records, a stunning defeat for Mr. Trump..."
Stunning? Isn't that exactly as predicted?
"... but a decision that probably means the records will be shielded from public scrutiny under grand jury secrecy rules until after the election, and perhaps indefinitely.
Here is the stunning defeat part. It's for the left.
"The Supreme Court just open itself up to congressional demands for the individual justices' tax returns. I can see a situation in which the House or the Senate decides that it must have access to all of the justices' tax and financial records each year to determine if they're influences in any way to write the decisions they write or vote the way they vote on numerous cases. The justices will not be able to argue that they are immune as a matter of separation of powers as they just shot down that argument as applies to the president." - Mark Levin
but a decision that probably means the records will be shielded from public scrutiny under grand jury secrecy rules until after the election, and perhaps indefinitely.
Obviously they'll be leaked to the NYT approximately .01 pico seconds after the SDNY prosecutors recieve them. It's not like they have any respect for whatever the hell "grand jury secrecy rules" are.
I want to see all of the lying Insider Trading Congress critters who have been in office for thousands of years and are multimillionaires. Trump made his money before he was President and doesn't take a salary. I hope this comes back to bite them ALL in their big fat do-nothing asses.
It is naive to think they won't be leaked.
Big deal. Points awarded to the Global Corruptocrats in New York. But the match goes on. Trump will be It’s winner and he wrestles on for us. Good job Jay Sekulo..
No it didnt, it just sent it back to the district court
The most repeated phrase today...no president is above the law. For Trumps own nominees for the SC, Kavanaugh and Gorsuch to side with the majority must be enraging Trump, he’s been busy on Twitter venting his spleen. Good to know he’s not immune from prosecution, a win for the Consitution.
Seems to me that the main reason the Democrats want to see Trump tax records is that they can't, and they've perverted the legal system in their efforts to obtain them.
"will be shielded from public scrutiny under grand jury secrecy rules until after the election"
And that's all that matters.
So Vance has probable cause to believe a crime has been committed? I mean an actual crime, not the crime of defeating Hillary?
Both decisions should have been 9-0. The grand jury should be able to "get them" on probable cause, and Congress cannot have them just based on separation of powers grounds
However, Trump's tax returns have been in his political enemies' hands all along. Literally dozens of people have handled them, both at the accounting/law firms that Trump employs, and at the revenue departments at the state/local and federal levels. If there was anything damaging there, it would have been leaked prior to the last election, and everyone with an IQ above normal body temperature knows this.
I don't see this as a victory for the Democrats at all. Typical spin.
Aside from the spin and the attempts to harass the president, the leaked 1995 return suggests the left will not find anything. If there had been, some leftist IRS employee would have leaked more than just the one year's.
SCOTUS punts. Short term victory for Trump as this issue will be tied up in the courts well after the election.
Hah, too funny. Again the democrats unleash more torpedos trying to get Orange Man and they will circle back years later to sink their own candidate. The cries for releasing Donald's taxes is boob bait for bubbas. If there were any real principles behind this other than political expediency, I'd be more forgiving.
It is naive in the extreme to believe that New York democrats won't give them to Congressional democrats.
They won't bother with it anymore after the election. Because there is nothing criminal. If there were we would know about it already.
But maybe something embarrassing, like, he's not a billionaire or something.
But after the election, who cares? They going to impeach him because he isn't as rich as he says he is?
A good lawyer can keep this tied up in court until Trump runs for a third term.
I read on a twitter feed that the Mueller team had access to the tax records and would have nailed Trump had anything been amiss.
Any truth to that?
As a rule I don't think anybody's taxes should be public knowledge, even politicians. If there is criminality suspected then that would change...
It seems that every department of government leaks like crazy when it comes to all things Trump. I'm guessing there's not much going on with his taxes or else a resistance member in the IRS would have leaked them years ago.
Wow, another 'stunning defeat'! How many stunning defeats can one man endure and yet keep on winning?
The hilarious thing is this- that people really believe Trump's accountants and lawyers help him to break the law in filing taxes.
I don't think this matters. The democrats in the IRS have had them for years. If there were anything hinky, it would have been leaked years ago.
I hope no one here sees this decision as a victory. Yes, Orange man bad and all that rot. However, now, no elected official, no matter how minor, no member of the senate or their staff, no matter how minor, no bureaucrat, judge or any person who represents the collective government is now under the same rules as Trump. How soon will lawsuits be filed against Senators Grassley or Schumer? Will their supposedly complete financial statements be enough of a paper shield? What about my VA service representative? Is she safe from a nuisance lawsuit? This decision is another nail in the coffin of America. No one should be cheering.
What did Trump do wrong again?
Cheat on his taxes?
Do you have proof of this Inga?
or it it like Romney.. and the big lie from Harry Reid that Romney never paid his taxes.
Inga buys all leftwing lies, wholesale.
What is Trump going to be prosecuted over, Inga?
Do explain.
That oft-quoted throwaway line, "no one is above the law, not even the president," may play well on CNN today, but Obama, Rice, Biden, Clapper, Comey and Brennan know that it very well may be fed back to them in the next few months by John Durham.
So the prosecutors are now allowed to go fishing- there is no probable cause, and everyone knows it. A defeat for the Constitution.
If there was anything damaging there"
Again I ask, what do they expect to find? Years of NOLs wiping out taxable income?
Some lefty said Russian loans!1! but I don't know why a lender's name would be in the returns.
And I really dgaf either way, but they must have some theory. But all I get is the usual point-and-sputter.
Yah they got him now. That W-2 from the Kremlin is going to do him in no doubt.
Do explain, Inga - how it's OK to set up and run a Private Server while serving as one of the highest ranking officers in the land, running the STATE DEPT. and how it's OK to use the Private Server to hide secret dealings including making money for the Clinton Foundation from Russian assets.
Do explain how it's OK for Joe Biden to use his office as the VP of the US to enrich his son with tax payer money washed clean thru a Ukrainian Energy Company.
Inga: "The most repeated phrase today...no president is above the law."
LOL
Both cases turn out precisely as predicted and the dems congressional nonsense is blown up and the Grand Jury case is kicked back down to the District Court for the next of several waves of new objections and appellate cases....
It is good to see even our dumb Inga has figured out the dems have placed themselves above the law across the country so she no longer writes "No one is above the law" but instead writes "No President is above the law"....which is still incorrect as obama spied on and attempted to frame a domestic political opponent using our intel and law enforcement agencies.
But maybe something embarrassing, like, he's not a billionaire or something.
It wouldn't be possible to garner his net worth from a 1040...
"However, Trump's tax returns have been in his political enemies' hands all along. Literally dozens of people have handled them, both at the accounting/law firms that Trump employs, and at the revenue departments at the state/local and federal levels. If there was anything damaging there, it would have been leaked prior to the last election, and everyone with an IQ above normal body temperature knows this."
This, obviously. Trump keeps baiting the hook and Democrats keep striking it.
"However, Trump's tax returns have been in his political enemies' hands all along. Literally dozens of people have handled them, both at the accounting/law firms that Trump employs, and at the revenue departments at the state/local and federal levels. If there was anything damaging there, it would have been leaked prior to the last election, and everyone with an IQ above normal body temperature knows this."
This, obviously. Trump keeps baiting the hook and Democrats keep striking it.
"No one is above the law!"
BS talking point from all leftwing hivemind sources..
But democratics who commit crimes and lie ARE ABOVE THE LAW.
I also sense another circling torpedo. With this precedent, surely no one will object to investigations into Dem leadership's finances?
So, if there is a leak of Trump's records won't that prove Trump's claims of the complete corruption of the Dems and their disregard of the law in their pursuit of power at all costs?Would the Dems really give Trump such a weapon to use against them?
Inga said...The most repeated phrase today...no president is above the law. For Trumps own nominees for the SC, Kavanaugh and Gorsuch to side with the majority must be enraging Trump, he’s been busy on Twitter venting his spleen. Good to know he’s not immune from prosecution, a win for the Consitution.
How do I explain things to our Choo-Choo girl in ways she can comprehend?
If Trump presumed he were above the law, his lawyers would not have taken it to the SCOTUS. In the same vein, if the law were settled, the SCOTUS would not have taken the case. Duh!
Trump is not venting his spleen at SCOTUS. He is frustrated with the constant and needless harassment by the Dems, as any normal person would be.
Choo-Choo loves the Dem media sound bites because that is all she can understand.
Those records will not stay secret, for any amount of time; if they aren't already out and available.
Typical Trump tactic.
He stakes out an outrageous position- that he has absolute immunity from discovery of his tax records.
The court says no, it's not absolute, it's relative. Remands to lower court for reconsideration.
Reconsideration takes time.
Time is on Trump's side.
Trump wins.
Again.
"...Records will be shielded from public scrutiny...."
Really??!? Ya think?
Royal ass Inga believes the sitting president can be prosecuted.
Royal ass Inga is stupid.
At least next time the argument can be made that the Prosecutor is incapable of protecting the taxpayer's privacy.
Anybody who pretends this will not be strategically leaked for whatever political advantage there might be is practicing another form of lying.
Well, that is to say if there is anything remotely spin-able as negative it will be leaked. Anything that absolves the president - like all of Obama's minions admitting there was NO proof of collusion while under oath - will be scrupulously kept secret.
Republicans need to get better at strategic leaking.
Was it a victory? Read POTUS tweets. And don't forget the ones he deletes.
"Stunning defeat" my ass.
I predict Trump's tax returns (in whatever form they become public) will be about as interesting as Capone's vault (or Obama's birth certificate).
I'm a lawyer, my tax returns are about as simple as can be, and yet I can barely follow them. Who thinks they will get a coherent and understandable narrative out of Trump's tax returns that will cause him any harm?
Inga said...The most repeated phrase today...no president is above the law.
And the law says your tax records are confidential.
but a decision that probably means the records will be shielded from public scrutiny under grand jury secrecy rules until after the election,
Wanna bet?
These decisions were never going to impact the 2020 election. But the Pences should be happy. If Trump somehow wins reelection these mean Mrs Pence should go ahead and make plans for redecorating the family quarters at the White House.
I agree with Yancey. The records are available through someone who worked on them all these years. There is nothing in them or they would have gotten out by now. This is the Democrats' Birther dead end.
Stunning? Wasn’t it expected? Didn’t Althouse say she expected exactly what we saw?
So the day after Biden wins some Republican AG (if any are left) should demand all the Tax Records back 20 yr for him, his family and those of Susan Rice, the new VP.
So the day after Biden wins some Republican AG (if any are left) should demand all the Tax Records back 20 yr for him, his family and those of Susan Rice, the new VP.
Good to know he’s not immune from prosecution, a win for the Consitution.
The idiot who still believes the Russia hoax.
Maddow was sure she had the walls closing in on him. The 1995 return was leaked to her and she waved it at the camera. Then she saw he had paid $25 million in tax that year. End of story.
I don't see the predicate for the NY prosecutor calling for a grand jury. This is why qualified immunity should be stripped from prosecutors. No doubt some of Trump's returns will be leaked and if he is still president when it happens he should order the US AG to investigate and prosecute the leakers.
The probable cause for these bullshit investigations is suspect just as the PC for the Mueller fiasco was nonexistent.
I'm sure if Hillary Clinton were running for president, the Hive's demand to see her financial records would be as loud. Except that it could get you killed.
Trump’s legal team running the four-corners offense perfectly.
Time for red state prosecutors to issue subpoenas for Congress tax returns.
I feel worst for Trump ... then Drago.
Here's hoping the canary trap is set when the documents are delivered.
If both got the files, then we wouldn't know who leaked them. I suppose that this hardly matters because the NY prosecutor knows what must be done.
Front page NYT 20 minutes after the SDNY guys get them.
Yancey Ward said...The hilarious thing is this- that people really believe Trump's accountants and lawyers help him to break the law in filing taxes.
Whenever I hear people talk about using Trump's tax records to get him I picture him at the dining-room table on April 14 trying to figure out how he can claim more charitable deductions. How can they possibly think Trump has anything at all to do with the filing of Trump's taxes other than the legally required signing?
No one is above the law!
Good to know he’s not immune from prosecution, a win for the Consitution.
You misspelled persecution. And Constitution.
And I wonder just how many more of these stunning defeats Trump must endure before he's re-elected?
It wouldn't be possible to garner his net worth from a 1040...
I think you man "glean."
Anyway, the whole discussion has been stupid. Like no one has seen his own tax return before.
Maybe Maddow can replay her I'VE GOT TRUMP'S TAX RETURNS show where she revealed he paid a pant load of taxes.
Would that sooth the feelings of the gotcha crowd?
Trump wins again. 7-2 I guess it's not all politics at SCOTUS
Birkel said...
Anybody who pretends this will not be strategically leaked for whatever political advantage there might be is practicing another form of lying.
... all of Obama's minions admitting there was NO proof of collusion while under oath - will be scrupulously kept secret.
Republicans need to get better at strategic leaking.
------------==============
I never understood R reluctance? to expose this exculpatory before Impeachment Train left the station! Were they playing a different deeper game? who was team captain?
Did they really face serious consequences and reelection jeopardy if they had broken silence? what about justice for the innocent?
This supposed invesitigation is about the "hush money" that Trump paid to women who voluntarily signed an NDA agreement with him. If he wrote it off as a non-taxable campaign contribution he would supposedly be in violation of campaign finance laws.
Aren't these types of campaign violations under the purview of the FEC?
And speaking about no one is above the law... Didn't the head of the DNC write a book where she admitted that she had signed an agreement with the Hillary campaign where all donations to the DNC went directly to her campaign. the head of the DNC admitted that this was an illegal circumvention of campaign donation ceiling limits. Call me crazy but is isn't that a far more egregious violation of FEC rules than having people willingly sign an NDA. A long, long established practice amongst politicians.
Has anyone heard how the Hillary investigation is going? Where is her official residence again?
bagoh20 said...
I agree with Yancey. The records are available through someone who worked on them all these years. There is nothing in them or they would have gotten out by now. This is the Democrats' Birther dead end.
----------============
he is born again and again
Wharton School of the University of Pennsylvania is now investigating Trump admission and graduation from Wharton and degree therefrom.
The tax returns don't actually have to be leaked. Lefty operatives can simply make up any old thing they want and feed it to a willing press under cover of "anonymous sources familiar with the contents of the returns".
That way they don't need to have even the thread of truth to them that an actual leak might have.
Hell, enterprising "reporters" could eliminate even fake "leakers" and just make up the whole thing themselves.
Not like that never happened.
“Was it a victory? Read POTUS tweets. And don't forget the ones he deletes.”
Trump tweets are decidedly not in a celebratory tone. What’s he so afraid of? He should come here and read all the comments saying there’s nothing to worry about regarding his tax returns. I think he’s trying to figure out which country will give him a place to safely be an exile in, some remote island in Siberia?
I‘t’s all Lindsey Graham’s fault, no fair!
“President Donald Trump took a swing at Sen. Lindsey Graham on Thursday in the aftermath of two Supreme Court decisions involving his closely held financial records, lamenting that the Senate Judiciary Committee chairman and close Trump ally was not doing enough to target the president’s political foes.”
No one is getting any files to leak
The NYT's Liptak got it wrong, what a shock!
Trump's lawyer handled things perfectly: He took up the last year with a ludicrous claim (the President has an absolute right o ignore State subpoenas).
Now he can spend another year on more reasonable claims.
If Trump loses in November, the case becomes moot.
If Trump wins, politician Roberts will accept the election results, and kill the subpoenas next June
Either way, Trump won
So the next president will be automatically set upon by a grand jury in a state that hates 'em! And that leads to unintended consequences.
Models are often shit, except when they have a successful track record, and Trump makes all things unusual, BUT:
"The Primary Model gives Trump a 91 percent chance of winning in November," Norpoth told Mediaite on Tuesday. "This model gets it right for 25 of the 27 elections since 1912, when primaries were introduced."
The Primary Model, which Norpoth introduced in 1996, predicts that Trump will win the 2020 election by a wider margin than in 2016. The model, which was one of the few prognosticators that foretold a Trump win in 2016, expects to see Trump claim 362 electoral votes in the 2020 election, much higher than the 304 he won when he ran against Hillary Clinton.
The two elections that the Primary Model got wrong in the past 108 years were John F. Kennedy's election in 1960 and George W. Bush's election in 2000, when he won the Electoral College but lost the popular vote."
https://www.theblaze.com/news/trump-win-2020-election-prediction-model
The model uses performance in the primaries to predict. Trump has been getting 2 to 3 times as many votes as Obama did.
When is the press going to ask Dingy Harry Reid about Trump's taxes? Harry always has the inside dope on candidates' taxes.
The Supreme Court just gave away half of Oklahoma to an Indian tribe!
What's next? Honoring Spanish land grants?
By the way, Sullivan has requested an en banc hearing at the Appeals Court. Trying to drag it out until the election, I guess.
If there was anything damaging there, it would have been leaked prior to the last election, and everyone with an IQ above normal body temperature knows this.
Doesn't have to be anything actually damaging. As complicated as Trump's taxes are, enemies will take things out of context and pretend as if it is nefarious.
They have been lying for years with impunity. The MSM propaganda influences the less intelligent among us. Simply look at our educated leftists commenters here repeating same old lies, as well as jumping on to every new one.
Inga: "I think he’s trying to figure out which country will give him a place to safely be an exile in, some remote island in Siberia?"
Nobody Knows What Mueller Knows!!!
Gee, if only there had been an investigation for 2 years with empowered Trump-hating lawyers with full authority to pursue any investigative opportunity they wanted with unlimited resources and unlimited global access to financial and business information with literally hundreds of FBI/DOJ investigators who also, btw, had full access to all of Trump's tax and financial records!
Boy, can you imagine what they might have found?
If only that had happened................................
LOL
We are literally at a point where Inga is now pretending Mueller's hack team investigation, which she spoke about every single day for over 2 years.....never even happened.
Ken B: "Stunning? Wasn’t it expected? Didn’t Althouse say she expected exactly what we saw?"
Yes.
The Trump team knew the congressional lawsuit would be an absolute loser (and it was) and they knew that their claim of absolute executive immunity re: Grand Jury subpoena's would be ruled upon differently, but there are multiple executive privilege angles to fight out in the courts which will delay that ruling significantly.
So, yes. Precisely as predicted, even here at Althouse blog.
Eric,
How would anyone find out about pdjt's wealth
From an income tax return?
Djt reported, back I. 2015,when he first filed to run a detailed account of his wealth. It ran about 100 pages and totaled around $9.5 billion.
As far as I know, nobody has ever questioned its material accuracy. Have you looked at it?
If there was some difference between what he claimed and actuality, I would think that the Clinton campaign would be screaming for perjury charges.
I looked at it at the time though not in great detail.
It was pretty explicit.
Its online at the Federal Election Commission site.
I'll hold my breath waiting for you to report back.
John Henry
Liptak had time to read the rulings, think about them and then declare the tax records would remain under grand jury seal. Oh, no. Nobody gets the tax records. Yet. They are not under grand jury seal. President Trump's accountants still maintain them.
Its easy to say Liptak is stupid. But the real truth is Liptak is lying on purpose to promote the narrative.
Rush shared today the musings of John Hinderaker, Powerline. John used to imagine the scribe at communist controlled media, writing a gun point. Because they wouldn't lie unless they would suffer death. But now, watching the United States DNC/media lie, when the truth would serve their agenda better, he can see the media are just scum with no principles.
Liptak had time to read the rulings, think about them and then declare the tax records would remain under grand jury seal. Oh, no. Nobody gets the tax records. Yet. They are not under grand jury seal. President Trump's accountants still maintain them.
Its easy to say Liptak is stupid. But the real truth is Liptak is lying on purpose to promote the narrative.
Rush shared today the musings of John Hinderaker, Powerline. John used to imagine the scribe at communist controlled media, writing a gun point. Because they wouldn't lie unless they would suffer death. But now, watching the United States DNC/media lie, when the truth would serve their agenda better, he can see the media are just scum with no principles.
For Trumps own nominees for the SC, Kavanaugh and Gorsuch to side with the majority must be enraging Trump.
Here is what years of history have taught us. Conservative justices follow the constitution, leftist justices rule to advance the leftist agenda, and vote against the constitution(and so, the people)
I suspect that like Bezos, Buffet, gates, Cuban, musk and many other wealthy Americans DJT has very little income most years.
Perhaps less than 1% of their net wealth.
One needs enough to live on in the style they wish. Let's say citizen Trump needed $20mm/yr.
On $9bn net worth, that woul be less than 0.2% of his nut.
Bezos draws $89,000/yr from Amazon. Currently worth $120bn or so.
That's 0.00007‰ of his net worth.
I would not be surprised if pdjt earned more taxable income from the $20mm or so he got in salary from the apprentice than he did from all his other holdings combined
Can you imagine the freak out if pdjt taxes showed he had no other income? And that it was all legal?
Read 'Adam Smith' 1971 book Supermoney to see how this works.
Available at the portal
John Henry
For someone more knowledgeable about us tax law and the real estate biz than me:
I am assuming this applies only to his personal taxes. I am assuming that it does not apply to corporations that he owns.
So first question, is that correct?
If so, wouldn't his tax return be pretty simple?
Just a lot of w2 and similar statements from the various corporations he partially or fully owns. Right?
All his companies file their own corporate returns. Unless they distribute money to him as dividends etc, they would not be on his return at all.
I agree with others here. There is nothing at all to see here.
I'd love to see him release 40 years of tax returns and all the support in documents including every Las taxi receipt. Maybe a couple million pages.
And do each page as a separate jpg to make the fake news read it all. No searching
And do it the day joe biden agrees to 3 public debates on condition of tax record release.
John Henry
John Henry
Liptak has been taking lessons from the shade of Joseph Goebbels.
We are literally at a point where Inga is now pretending Mueller's hack team investigation, which she spoke about every single day for over 2 years.....never even happened.
Low bar but I agree. I also think John Henry is correct on the personal return. Trump kind of lived high before running but it is still probably a small fraction of his net worth. The 1995 return, which was leaked to MSNBC, is probably similar to the more recent ones. The point about the "Apprentice" income is another one I had not considered.
No one in Trump's league has a simple personal tax return. People with a net worth of 1% of Trump's don't have simple personal tax returns. Very few people could even understand a Trump's tax returns. At that level the IRS has special agents who are constantly working on the returns.
The mandatory reporting of all income was unconstitutional as self-incrimination until the IRS swore not to share the information with any other agency.
If they start sharing, you don't have to report your income. Self-incrimination.
damned if cyrus vance
didn’t get his bottom lanced
and it weren’t no boil
Cuban bob,
If all of djts income comes from salary, as chairman of this corp, actor on this tv show etc im not sure how complicated it would be. Just simple w2 income plus personal deductions mybe proprty tax on his pesonal houses and other standard things anyoe take at any level. He would have tax witheld like anyone else
Income from companies would be reported to him on something like a w2 but I forget the number.
If he sold a company he would submit a capital gain/loss schedule like any of us.
All the complexities of which you speak, and they are probably substantial, would be on the various corporate tax returns, not his personal return.
I might be wrong. Could you explain why his personal return would be any more complex than a normal middle class return? What items add complexity?
And i am still curious if this ruling covers just personal returns or includes corporate returns?
Does anyone know?
Frankly, I would think his fec financial disclosure would be much more interesting. It would show who he, via his companies, owes money to, who owes him money, who he's partnered with, what countries he does business with, what properties he owns and much, much, more.
Ever since he submitted it, crickets. Everyone wants to whinge about income tax returns rather than what they can actually see now and could actually see with a few keystrokes at any time for the past 5 years.
If there was dirt to be found, it would be found there, not in his tax returns. That inga, arm and their pals are completely silent leads me to believe he is clean as a whistle financially.
Remember ing, arm "silence is violence!" speak up, let us hear zbout all the dirt here.
John Henry
John Henry
John Henry it isn't anywhere as simple as you think. He is a shareholder in a large number of privately held corporations. As a shareholder he is responsible for his proportionate share of the entities taxes.Each entity has to file federal and state and local income tax returns. All of them have business profits and losses and carry forwards and K1's to file. I recall reading somewhere he was involved in some ownership capacity in at least 100 companies. All those entities have to file returns in every state they business in. No doubt he is a trustee and beneficiary of who knows how many trusts and those trusts have to add the K1's of every investment they hold.
Think of professional athletes, every state they play in, they pay income taxes and city income taxes as well as federal income taxes. As personal services corporations ( which most of them are) they also have business expenses to deduct from all of those different returns before they get to their federal returns. They are Trump on a small scale. And then there are capital gains taxes both Trump, Trump's entities and the athletes have. And if they have foreign investments even more returns to file along with the backup documentation along with possible foreign tax returns and whether or not they qualify under tax treaties. By the way, the IRS doesn't accept all of the paperwork in PDF form, they want paper copies. Someone as wealthy as Trump with so many business interests and delays in getting the reporting from banks and investment companies and different tax entities having different tax dates and all of it given to the IRS in paper you can easily see the returns filed with the IRS are easily several feet thick. Each and every year.
This "sharing of tax returns" between agencies is GREAT
All Drug dealers and illegal immigrants should be prosecuted immediately based on tax information
If I was a prosecutor, I'd get a typical rubber stamp judge, maybe from Robert's FISA, and just dragnet.
> you can easily see the returns filed with the IRS are easily several feet thick. Each and every year.
Big companies have IRS auditors in the building full time.
Other countries (MY) put an govt auditor on your staff.
@Gahrie: What's next? Honoring Spanish land grants?
There are a handful of land grants from the Spanish Crown, and later the Government of Mexico, that are still recognized in Arizona and New Mexico. Possibly also in a few other Southwestern states. Some of them are quite large parcels of land.
Post a Comment