So it looks like the Slobfather's spawn received gifts disguised as loans

[malaise]

Seriously they are all career criminals. As the details unfold we will see tax fraud on steroids.
The IRS did not audit Slobby’s taxes until when again? We will also see enablers.
Remember now Slobby ordered the IRS to go after his enemies. The lying liar lied again.
It all stinks. Corruption is everywhere.

There is a reason the billionaires love ReTHUGs - destroying government means destroying the IRS.

[multigraincracker]

1. I'm shocked.....

[3Hotdogs]

7. "Your winnings, sir."

[SheltieLover]

2. SC Smith is, no doubt, hot on his trail!

[modrepub]

3. Don't Talk To Me About The Dangers Of Big Government

unless you're going to address the dangers of Big Business/Ultra Rich People.

[Roy Rolling]

5. Big Business

There was “big business” long before there was big government, big tech, or big anything else.

Somebody’s gotta finance insurrection and it ain’t big politicians—they are beggars now.

[nightwing1240]

4. Political and corporate welfare reign supreme with that bunch

Not to mention cronyism, greed and self-serving. It has always been around but far worse now. We have children and families going to bed hungry while these buggers suckle the government teat. Disgusting and should be criminal.

Evil triumphs when good people do nothing

[Joinfortmill]

6. Indict this m*f*ucker

[BlueWaveNeverEnd]

8. details please

[IronLionZion]

9. His NFT trading cards are the same

it's a way to receive money while hiding the source of where it came from. Sounds like money laundering or tax avoidance or something like that.

[gab13by13]

10. We have people here at DU

taking the side of the IRS.

Remember this, Trump appointed Charles Rettig as IRS commissioner, the most extreme audits were done to Trump's "enemies" Comey and McCabe, remember? People raised holy hell about the audits so Rettig had the IRS IG look into the Comey/McCabe audits and the IG of course, found no wrong doing.

Rettig has retired, thank goodness, and Treasury Secretary Yellen has appointed Doug O'Donnell as acting IRS commissioner. I have no idea if O'Donnell is an honest man but Rettig wrote a letter praising him, which gives me pause.

I am going to look up who the IRS I.G. is.

[NJCher]

11. They don't even know how to

Audit taxes of the wealthy. They just do the W2 people.

They really ought to put together high level teams of auditors. Could be quite lucrative.

If you recall, the Dems recently tried to do this. It went nowhere.

[Ms. Toad]

12. Without more info, that makes no sense.

According to the Washington Post, the speculation is about $51,000 to his the eldest children (with no information about how it was split or the years of the gift.)

First - any gifts would be taxed at his death, if at all (not now).

Second, the gift exclusion (i.e. never taxable) was $13000 or $15,000, depending on the year. Both spouses can give a gift, and the gift can be given to each of their child and the child's spouse.

So assuming both elder trumps gave the maximum to each child and their child's spouse, that's $52,000-$60,000 per child which would never even have to be reported. $51,000, even if all given to a single child (and spouse) would have zero tax implications for either party - so why bother disguising it as a loan. If the $51,000 was split among the children it makes even less sense.

And, as noted earlier, all gift taxes are paid upon the death of the donor, so aside from reporting obligations, it has no tax implications until Trump dies (and no tax implications at all for his children, since the donor pays the taxes).

Loans, on the other hand may have tax implications for the lender - since taxes have to be paid on any interest received (or presumed to be received).

[Blue Owl]

13. K&R for exposure