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rufus dog

(8,419 posts)
Mon Sep 28, 2020, 08:06 PM Sep 2020

Need some help here - looking for a good link about this tax shitstorm

Basically as follows:

1. How does someone get an 80 million dollar check cut without multiple levels of sign off?
2. How the hell does someone NOT get audited after claiming losses over multiple years

Either we have a severely broke system (seems to be a given) with no checks and balances or there were multiple people involved in the fraud and cover up. And it isn't just the tRump family (another given that they commit fraud)


7 replies = new reply since forum marked as read
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Need some help here - looking for a good link about this tax shitstorm (Original Post) rufus dog Sep 2020 OP
The RW attacks on our IRS have successfully scared our MaryMagdaline Sep 2020 #1
How much digging is required? rufus dog Sep 2020 #2
Also by the check signing did you mean the signing of the IRS refund? MaryMagdaline Sep 2020 #4
exactly rufus dog Sep 2020 #5
Excellent point. This is where congress needs to start their IRS investigation MaryMagdaline Sep 2020 #6
Good point. Then it's simply fear of reprisal if they go after someone big MaryMagdaline Sep 2020 #3
Two points... TreasonousBastard Sep 2020 #7

MaryMagdaline

(6,842 posts)
1. The RW attacks on our IRS have successfully scared our
Mon Sep 28, 2020, 08:09 PM
Sep 2020

Governmental employees. Not only do we not have the funds to go after big tax cheats, we don’t have the backs of those employees who would have to do the digging

 

rufus dog

(8,419 posts)
2. How much digging is required?
Mon Sep 28, 2020, 08:13 PM
Sep 2020

Say and example where he bought some land in NY for a golf course. Paid 2.4 million, ended up donating it and taking a $100 million write off. A five minute search required to check land value per acre in the area and determine it wasn't anywhere near 100 mil.

Also how does a check get cut without multiple levels of sign off? Try to get a 5 million signed off at a multi billion dollar corporation. You get up into that range and Board sign off is required.

 

rufus dog

(8,419 posts)
5. exactly
Mon Sep 28, 2020, 08:23 PM
Sep 2020

Somehow that check got out, HOW? It defies logic that some validation was required prior to the check even getting cut. Can't recall how many years you can go back for the loss, but he would have had to have paid in 80 million to get a refund of 80 million.

MaryMagdaline

(6,842 posts)
3. Good point. Then it's simply fear of reprisal if they go after someone big
Mon Sep 28, 2020, 08:17 PM
Sep 2020

Imagine being a salaried employee having to sign affidavits to get a criminal investigation going against someone as powerful as the Trumps (even before the presidency)

TreasonousBastard

(43,049 posts)
7. Two points...
Mon Sep 28, 2020, 08:41 PM
Sep 2020

His corporate taxes span several hundred corporations, some of which made money, some of which didn't. If a company regularly loses money, it can lose its charter or be looked at with a beady IRS eye as a fake company. So he spreads the losses around from year to year, and no company gets special treatment.

And then-- did the IRS actually cut a check for 80 million, or is it an accounting adjustment? Maybe against possible future taxes? That wouldn't make it smell less, but smooths out the story a bit.


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