One Piece of Evidence Suggests Trump Could be a Felon Tax Cheat

I am cheating you

The president's leaked tax documents are being analyzed. The Washington Post write this on one item the New York Times disclosed a couple of days ago. WaPo writes in an opinion piece:

"First, the IRS audit looking into Trump’s $72.9 million tax refund, as revealed by the New York Times, will eventually come to an end. (Did he order it held in abeyance, or do all audits take four years?) Tax guru Daniel Shaviro explains in a post for Just Security that the refund stems from the ordinary loss of Trump’s casinos going bust, but he would only be able to claim that ordinary loss (as opposed to a more restricted capital loss) if he abandoned the asset as worthless. “[Trump] received back a 5 percent interest in the stock of the new entity,” Shaviro writes, suggesting he did not “abandon” the asset. The result is that “if the stated facts are accurate and relevantly complete [it] would cause him to owe the IRS about $100 million, given interest on the prior refund. This leaves aside the possibility of civil or criminal tax penalties for claiming an abandonment loss despite receiving consideration back.” That’s a lot of money for anyone, but especially for someone who has a personal debt of $421 million coming due. 

Will banks bail out Trump once more? Maybe, but it’s unlikely if he faces federal or state prosecution for financial crimes. Even if Trump were to, say, leave office a day early and get a pardon from Mike Pence during his 24-hour presidency, a federal pardon is of no use in civil matters or in state criminal prosecution, which is precisely what Trump could face in New York."

Maybe a noose is tightening around our corrupt president's neck. If so, it is long overdue. Our corrupted tax code and our corrupt congress and two-party system gets much of the blame for this rancid situation. 

If he is not re-elected, our president is facing near-term economic ruin and criminal prosecution. His offspring's inheritance would probably go down with him. I do feel sorry for his niece, Mary Trump and her brother, who will also probably lose out. They have been cheated out of millions, maybe hundreds of millions.