Sens. Sheldon Whitehouse (D-Rhode Island) and Ron Wyden (D-Oregon) called on Attorney General Merrick Garland to appoint
a Special Counsel to investigate potential tax law violations by Clarence Thomas and his billionaire benefactors.
Gifts exceeding an annual amount require the donor to file of a Gift Tax Return with the IRS. The filer must either pay a Gift Tax or reduce their eventual estate exemption by the amount of the gift.
Did Harlan Crow and the other billionaires file Gift Tax returns, reporting the amount of the gift to Clarence Thomas?
Additionally, forgiveness of debt is taxable income to the debtor. When billionaires loaned items to Clarence Thomas, then forgave them, did Clarence Thomas report the forgiveness of debt as income on his income tax return?
Inquiring minds want to know.
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