One big question about former President Trump now has an answer — and it’s an alarming one for his critics.
In the later days of his presidency, his foes debated whether politics would snap back to normal if he lost his bid for a second term.
Some feared he had wrought permanent change on the political landscape. Others viewed his tumultuous presidency as a toxic aberration that might be neutralized soon after he left the White House. Continue reading.
A U.S. House of Representatives panel has reissued a subpoena seeking Donald Trump’s tax and financial records, saying in a memo made public on Tuesday it needs the documents to address “conflicts of interest” by future presidents.
In a court filing on Tuesday, House lawyers told a judge that the House Oversight Committee reissued a subpoena to Trump’s accounting firm, Mazars USA LLP, on Feb. 25.
The committee issued a similar subpoena in 2019, but that subpoena expired in January when new U.S. lawmakers took office. Continue reading.
The Manhattan District Attorney’s Office has obtained former President Trump‘s tax returns.
A spokesman for Manhattan Distr ict Attorney Cyrus Vance Jr. (D) said Thursday that the office obtained the records on Monday.
The development comes after the Supreme Court on Monday rebuffed an effort from Trump’s lawyers to shield the documents. Continue reading.
The investigation into former President Donald Trump continues to move forward, according to an exclusive new report by Reuters.
“The Manhattan District Attorney’s Office has subpoenaed a New York City property tax agency as part of a criminal investigation into Donald Trump’s company, the agency confirmed on Friday, suggesting prosecutors are examining the former president’s efforts to reduce his commercial real-estate taxes for possible evidence of fraud,” Reuters reported.
“The subpoena is the latest indication that Manhattan District Attorney Cy Vance Jr. is looking at the values Trump assigned to several commercial properties in tax filings and loan documents,” Reuters reported. “Along with information already subpoenaed from creditors, the tax agency documents would help investigators determine whether Trump’s business inflated the value of his properties to secure favorable terms on loans while deflating those values to lower tax bills for those same properties.” Continue reading.
The Manhattan District Attorney’s Office has subpoenaed a New York City property tax agency as part of a criminal investigation into Donald Trump’s company, the agency confirmed on Friday, suggesting prosecutors are examining the former president’s efforts to reduce his commercial real-estate taxes for possible evidence of fraud.
The subpoena issued to the New York City Tax Commission is the latest indication that Manhattan District Attorney Cy Vance Jr. is looking at the values Trump assigned to some commercial properties in tax filings and loan documents.
Along with information already subpoenaed from creditors, the tax agency documents would help investigators determine whether Trump’s business inflated the value of his properties to secure favorable terms on loans while deflating those values to lower tax bills for those same properties. Continue reading.
A federal judge on Friday issued a temporary order that will require the Treasury Department to give former President Trump‘s personal lawyers 72 hours notice before providing Trump’s tax returns to House Democrats.
Judge Trevor McFadden, a judge in federal district court in Washington, D.C., appointed by Trump, directed the Treasury Department and IRS to provide Trump’s personal lawyers with the three-days notice before providing the former president’s tax returns to the House Ways and Means Committee.
The order lasts until Feb. 5. Continue reading.
A federal judge on Friday issued a temporary order that will require the Treasury Department to give former President Trump‘s personal lawyers 72 hours notice before providing Trump’s tax returns to House Democrats.
Judge Trevor McFadden, a judge in federal district court in Washington, D.C., appointed by Trump, directed the Treasury Department and IRS to provide Trump’s personal lawyers with the three-days notice before providing the former president’s tax returns to the House Ways and Means Committee.
The order lasts until Feb. 5. Continue reading.
A federal appeals court on Wednesday ruled that President Trump cannot block enforcement of a New York grand jury subpoena for eight years of his tax returns.
The ruling, from a three-judge panel for the U.S. Court of Appeals for the 2nd Circuit, affirms a federal judge’s decision in August that rejected Trump’s claims that the subpoena from Manhattan District Attorney Cyrus Vance Jr. was overly broad and issued in bad faith.
The parties have agreed to temporarily halt enforcement of the subpoena. Continue reading.
The New York Times’s blockbuster story on President Trump’s taxes has boosted the push to give the IRS more funding to scrutinize wealthy taxpayers.
The Times article published Sunday reported that Trump paid little to no federal income taxes in many recent years, and the article described some of the ways Trump minimized his tax bills. The news outlet also reported that, starting in 2010, Trump claimed and received a $72.9 million refund that has been at the center of a years-long audit.
Trump said in a tweet on Monday that he “paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits.” It remains to be seen what the ultimate results of the audit will be. Continue reading.
After the New York Times published its bombshell reporting on President Donald Trump’s tax informationover the weekend, his sycophants rushed to his defense. One of those sycophants has been White House Deputy Press Secretary Brian R. Morgenstern. During a CNN appearance on Monday, Morgenstern insisted to host Poppy Harlow that the Times’ reporting was no big deal — and Harlow explained why, in fact, it is a very big deal.
The Times reported that during ten out of 15 years, the wealthy Trump paid no federal income taxes — and that during his first year in office, he only paid $750.
Harlow told Morgenstern:
Here’s why it matters: because federal taxes pay for things like the military — that the president said he so strongly supports. It pays the salary of Secret Service members that secure him every single day. It pays for roads, bridges — I could go on. And the average American, in 2017, Brian, paid $12,199 in federal income taxes. Why does the president believe that he owes 16 times less? Continue reading.
