Wednesday, 02 December, 2020


Prosecutors open an investigation into Trump’s daughter

Chip Somodevilla  Getty Images Chip Somodevilla Getty Images
Bennie Garza | 21 November, 2020, 17:31

Two separate fraud investigations into President Donald Trump and his businesses in New York State have expanded to include tax write-offs for consulting fees, some of which appear to have been paid to Ivanka Trump.

Vance's and James's offices reportedly issued subpoenas in an attempt to obtain Trump Organization records related to the payments, The Times said.

On a 2017 disclosure she filed when joining the White House as a presidential adviser, she reported receiving payments from a consulting company she co-owned, totaling $747,622, that exactly matched consulting fees claimed as tax deductions by the Trump Organization for hotel projects in Hawaii and Vancouver, British Columbia.

In a second tweet, she said the investigations were part of a "continued political vendetta" and linked to a New York Times report about New York Attorney General Letitia James' personal feelings toward President Trump and her efforts to sue the Trump Foundation. "This "inquiry" by NYC democrats is 100% motivated by politics, publicity and rage".

According to the report, the Internal Revenue Service could reject such write-offs if they were claimed as a way to avoid taxes.

"These politicians are simply ruthless", Ivanka continued. It is not known if the IRS has ever questioned the Trump Organization about the practice.

Investigators with the Manhattan district attorney's office, which is conducting a broad criminal investigation, and the NY attorney general's office, which has a civil inquiry under way, have subpoenaed the Trump Organization seeking records relating to the consulting fees.

The New York Times examined more than 20 years of Trump's tax records, which revealed he had paid "little to no federal income taxes in most years".

The White House did not immediately respond to Business Insider's request for comment. There has been a long battle over getting subpoenas for Trump's returns; this is a victory for NY. The company of the current American leader received a similar subpoena from the Manhattan District Attorney Cyrus R. Vance Jr., who is conducting a criminal investigation on the same topic. And the Supreme Court will soon make a decision on what's to follow.

The post Trump tax deductions involved in 2 NY fraud investigations appeared first on TheGrio.

She was referring to a New York Times article that also said that the two investigating officials - the New York state and city state attorneys - had subpoenaed the Trump Organisation for more information.

In a TV interview this month, James, the NY lawyer normal, mentioned that this month's election was irrelevant to the investigations.

The New York attorney general's investigation is focusing on whether the Trump Organization or Trump improperly inflated the value of certain assets in violation of tax laws or when seeking loans and the forgiveness of a $100 million loan. "I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits".

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