New Evidence Donald Trump Didn’t Pay Taxes
06.15.16 1:00 AM ET
If the presumptive GOP nominee keeps hiding his returns, Congress could force him to show his hand with a one-line amendment to the tax code.
New questions about the integrity of Donald Trump’s income tax returns, and new indications that he does not pay income taxes, arise from rulings in two tax appeals that Trump filed in the 1990s. Trump lost both cases.
Trump’s 1984 federal income tax return included a Schedule C, the form used by sole proprietors, the decision in the first case shows.
Trump listed no income on that form, yet he deducted $626,264 as expenses. His New York City tax return also showed no income, but listed slightly less in expenses: $619,227.
No receipts, invoices, or other documentation were provided when Trump was under audit or during his appeal from what he argued was an unfair demand for more tax.
“The record does not explain how Petitioner [Trump] had significant expenses without any concomitant income from his consulting business,” wrote H. Gregory Tillman, the city administrative law judge who heard the case on April 29 and May 28 of 1992.
Jack Mitnick, the lawyer and accountant who prepared Trump’s tax returns for more than two decades, was Trump’s only witness. Mitnick testified that he was “thoroughly familiar” with the Trump tax returns and all aspects of the finances of Trump Tower, which were central to the appeal.
But when shown a photocopy of Trump’s 1984 tax return, Mitnick testified that “we did not” prepare that return, referring to himself and his firm, and he said did not know who did. However, Mitnick did not dispute that it was his signature on the photocopy.
The original tax return was never found, the judge noted.
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http://www.thedailybeast.com/articles/2016/06/15/new-evidence-donald-trump-didn-t-pay-taxes.html?via=newsletter&source=DDMorning
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