Trump's reported $700 million loss key to proving tax fraud: tax expert
In a podcast interview with Mother Jones, tax guru Steven Rosenthal of the Urban-Brookings Tax Policy Center suggested that there is little in the recently released Donald Trump tax returns that he see as fraught with criminality, but that their release is now inviting scrutiny of a $700 million loss the former president reported in 2009.
Speaking with former Department of Justice official Harry Litman, Rosenthal suggested the only reason that the former president has been allowed to get away with sketchy deductions for decades is that he has overwhelmed the IRS which, curiously, has not pursued him vigorously.
On that point, he noted that one agent was tasked with looking into Trump's taxes while he was in office.
"They only assigned one agent to one of Trump’s presidential returns—his first—in the third year of Trump’s presidency. And they only got to the other presidential returns after Trump left office. That one agent in effect outsourced the audit of a lot of income and deductions to Trump’s tax lawyers and accountants that prepared the return," he told Litman before later adding, "I think the agent was so overwhelmed, they just said let’s trust Trump’s preparers to get these numbers right."
https://www.msn.com/en-us/news/politics/trump-s-reported-700-million-loss-key-to-proving-tax-fraud-tax-expert/ar-AA16aMSO
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