CAN’T STOP THE HUSTLE
Why Donald Trump May Never Pay Federal Income Tax Again
The alleged billionaire, last known to have paid up in 1977, may not have to until 2042—if then.
David Cay Johnston
11.01.16 5:45 PM ET
Donald Trump can enjoy income tax-free living for the rest of his life, my new analysis of his tax documents shows, adding to the reasons the Republican nominee for president should make his tax returns public before voting ends next Tuesday.
Thanks to a diligent team of New York Times reporters, we learned Halloween night that Trump’s top-notch tax advisers warned in 1991 that his extremely aggressive tax strategy to convert nearly a billion dollars of taxable income into tax losses would likely be rejected in an IRS audit. But, as we shall see, there was little risk Trump would be audited (doubly ironic, given how he’d used supposed audits to justify becoming the first post-Watergate presidential candidate who hasn’t released tax returns).
The documents in The Times confirm what I told readers a month ago about how Trump transformed taxable income into tax avoidance on a grand scale. Since then, numerous tax practitioners and professors have written their own essays applying the same line of analysis first published in my Oct 3. column, headlined “Art of the Steal.”
more:
http://www.thedailybeast.com/articles/2016/11/01/why-donald-trump-may-never-pay-federal-income-tax-again.html?via=newsletter&source=DDAfternoon
DO SOMETHING!
| 