Peter1469
03-09-2017, 09:40 AM
Why we’re unlikely to find any Russian connection in Trump’s tax returns (https://www.washingtonpost.com/business/economy/why-were-unlikely-to-find-any-russian-connection-in-trumps-tax-returns/2017/03/09/2a52f8c4-0366-11e7-b9fa-ed727b644a0b_story.html?utm_term=.6720439a4900)
WAPO enters the uncharted territory of journalism. So many people claim they must have Trumps personal income tax returns in order to prove his Russian ties. I have repeatedly said that simply is not the case. A reporter agrees with me.
Hence the increased demands for Trump to make his returns public the way that presidents and presidential candidates have done since Richard Nixon, but that Trump has refused to do, despite initially saying he would.
However, even if Trump has business ties with Russian oligarchs or the Russian government — please note the “if,” because there is nothing suggesting that is the case — it’s highly unlikely that evidence of that would show up in his personal tax returns. That’s the unanimous opinion of three respected tax experts I consulted, none of whom is an apologist for Trump.
A primary reason, they told me, is that Trump does business through hundreds of entities, including partnerships, corporations and LLCs (short for limited liability companies).
If you could read the relevant documents — IRS Forms 1040 and 8938 and Schedules C, E and S — you would see that unless the president has a personal Russian bank account or shows a gain or a loss on the sale of a Russian security or property, financial results of Russian dealings (if they exist) would likely be lumped in with hundreds of other dealings rather than being broken out specifically.
WAPO enters the uncharted territory of journalism. So many people claim they must have Trumps personal income tax returns in order to prove his Russian ties. I have repeatedly said that simply is not the case. A reporter agrees with me.
Hence the increased demands for Trump to make his returns public the way that presidents and presidential candidates have done since Richard Nixon, but that Trump has refused to do, despite initially saying he would.
However, even if Trump has business ties with Russian oligarchs or the Russian government — please note the “if,” because there is nothing suggesting that is the case — it’s highly unlikely that evidence of that would show up in his personal tax returns. That’s the unanimous opinion of three respected tax experts I consulted, none of whom is an apologist for Trump.
A primary reason, they told me, is that Trump does business through hundreds of entities, including partnerships, corporations and LLCs (short for limited liability companies).
If you could read the relevant documents — IRS Forms 1040 and 8938 and Schedules C, E and S — you would see that unless the president has a personal Russian bank account or shows a gain or a loss on the sale of a Russian security or property, financial results of Russian dealings (if they exist) would likely be lumped in with hundreds of other dealings rather than being broken out specifically.