NYT "Trump's Tax Returns Are 'One Piece of the Puzzle.' Prosecutors Are Getting More."

[NewHendoLib]

For all that they reveal, tax returns have limitations. Other records from the former president’s accountants may help give a fuller picture of his finances.

By Mike McIntire
Feb. 22, 2021, 8:02 p.m. ET

https://www.nytimes.com/2021/02/22/us/trump-tax-returns.html

(I'll try to pick out 4 worthwhile paragraphs - sorry about the paywall)

When New York prosecutors finally get to examine the federal tax returns of former President Donald J. Trump, they will discover a veritable how-to guide for getting rich while losing millions of dollars and paying little to no income taxes. Whether they find evidence of crimes, however, will also depend on other information not found in the actual returns.

snip

In addition to the tax returns, Mr. Trump’s accountants, Mazars USA, must also produce business records on which those returns are based and communications with the Trump Organization. Such material could provide important context and background to decisions that Mr. Trump or his accountants made when preparing to file taxes.

snip

Numerous claims by Mr. Trump of generous philanthropy fell apart upon examination of his tax returns, which raised questions about both the amount of certain donations and the overall nature of his tax-deductible giving. For example, $119.3 million of the roughly $130 million in charitable deductions he claimed since 2005 turned out to be the estimated value of pledges not to develop real estate, sometimes after a planned project fell through.

snip

last paragraph

If an I.R.S. ruling were to ultimately go against him, Mr. Trump could be forced to pay back more than $100 million, factoring in interest and possible penalties, in addition to some $21.2 million in state and local tax refunds that were based on the figures in his federal filings.

[Frustratedlady]

1. Well, since Trump says the IRS has audited him every year for many years...

If Vance finds violations of the taxes that the IRS didn't find, perhaps the IRS should also be investigated. If all these speculations are true, they should have found many items that required explanations/corrections. If not, was there a deal going on? Was he charged penalties/interest on errors?

It will certainly be interesting to hear the explanations for certain claims that allowed Trump to pay zero taxes for many years. I hope I live long enough to hear the rest of the story.

[triron]

2. Why are they getting only 8 years of tax retrurns?

[Mr.Bill]

3. Because they only want to spend 15-20 years

on the investigation.

[triron]

4. ha ha. No really, why??

[Mopar151]

5. Enough cases in the shorter time frame, easier to make. nt

[crickets]

6. Hoo, the third quoted paragraph alone... 🤦‍♀️

[triron]

7. Tell us more.