Trump taxes + IRS
April 5th, 2019 at 12:37:50 PM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18632 | What many people think. 1) IRS audits. 2) Notifies of discrepancies. 3) Trump lawyers and accountants iron out mistakes if any, pay any underpaid tax, or receive credit. In the end, Trump pays taxes legally owed. If he pays less, it is still legal. So fine. What is more likely. 1. IRS audits. note: accountants/lawyers of Trump have created intentionally complex financial web intended to hide millions of dollars. Completely legal. IRS agents can spend more than a year trying to untangle web. So, when Trump says no one will understand if he releases them, he probably means it. 2. IRS notifies of discrepancies goes back and forth with Trump team. This can run into years. 3. IRS eventually offers settlement because contrary to popular belief they fight everyone endlessly, or come take your assets. Not true when it comes to people wealthy enough intending to prevent it. So, in the end, Trump has taken all legal shelters, and additionally has likely avoided millions of dollars in taxes he should have still paid through the ability to stymie the IRS with both legal maneuvers and complexity. What's that quote Duff likes so much from Animal Farm ---- some animals more equal than others. Most people have totally different experiences with the IRS. You believe in an invisible god, and dismiss people who say they are trans? Really? |
April 5th, 2019 at 12:40:40 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 | He'll never release them, and SCOTUS will uphold it. There has to be evidence of wrong doing, wild speculation is not enough. It's an obvious fishing expedition. If you take a risk, you may lose. If you never take a risk, you will always lose. |
April 5th, 2019 at 12:45:08 PM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18632 | Regardless, this is what I think is going on with him. And why he won't release them. You believe in an invisible god, and dismiss people who say they are trans? Really? |
April 5th, 2019 at 1:44:27 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 |
Who cares. If you were a multi billionaire you wouldn't release them either. Total -EV for you. If you take a risk, you may lose. If you never take a risk, you will always lose. |
April 5th, 2019 at 2:39:57 PM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
"Tax Shelters" largely no longer exist and have not since 1986. Don't believe the IRS does not "fight" wealthy people. The IRS is as ruthless as the mafia when it comes to collections. What is most likely is they have to negotiate what is what. What is an improvement vs what is a repair? Is "goodwill" being written off? If so, how was that value arrived at? Has all cash received been reported as income (see : Skylar White/Breaking Bad)? I know what a mess this can be on one rental property. Multiply it by a million for Trump's empire. The President is a fink. |
April 5th, 2019 at 3:09:44 PM permalink | |
Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25010 |
The CPA I was using a few years ago said the IRS has pitbulls when it comes to dealing with wealthy people. That's where all the big returns are for time spent. They don't get diddly from harassing $30K a year people. If you take a risk, you may lose. If you never take a risk, you will always lose. |
April 5th, 2019 at 3:12:42 PM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18632 |
That's the MYTH, unless you're a billionaire. Georg Schaeffler.
The IRS told Schaeffler’s lawyers it was willing to accept tens of millions out of a 1.2 billion claim. You believe in an invisible god, and dismiss people who say they are trans? Really? |
April 5th, 2019 at 3:19:45 PM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18632 | Besides that you have to ask yourself who has the A-team. The pay at the IRS OR billionaires. pay at the IRS doesn''t buy you the A-team. IRS is the b team when it comes to billionaires. You believe in an invisible god, and dismiss people who say they are trans? Really? |
April 5th, 2019 at 3:27:43 PM permalink | |
petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 | Some of them folks aren't doing it for the money. They are Sadists who will never have another means to have that much power over others. Or so it seemed. The last official act of any government is to loot the treasury. GW |
April 5th, 2019 at 3:43:21 PM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
You don't get it. 1. The IRS never runs out of time or money to get you. They have all the power of the feds behind them. 2. The best CPAs go to the IRS to make their bones. A team of prospects 10 times the size. No matter if you have a few of the best pitchers in the game, the team with the farm system ten times as deep will come out on top if the game keeps going on. They want you, they will get you. The President is a fink. |