#Trump May Owe $100 Million From #DoubleDip Tax Breaks, Audit Shows
A previously unknown focus of an #IRS audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on his #Chicago skyscraper.
It’s almost like the Judge doesn’t trust the adjudicated fraud.
One NEW and important provision in today’s order:
The Trump Organization must inform Judge Jones of any efforts to secure a surety bond. Financial disclosures must be provided to Jones prior to being issued to third parties.
If Jones observes “any material misstatements, misrepresentations, or omissions” she will immediately report them to the Court. Trump must provide monthly bank statements. It must give her notice before any cash transfer totaling $5 million or more.
Any debt or equity restructuring, any payment or payoff of any debt outside of the ordinary course must be reported to Jones.
The Defendants cannot transfer assets or reincorporate existing business entities in another jurisdiction to evade compliance with this Order.
If the defendants violate this Order, the Court can modify it and “order such relief as the Court deems just and proper.”
At the nine percent interest rate, Trump will owe approximately $454.9 million on Friday—two weeks after Engoron’s initial ruling—$456.6 million a month from the ruling on March 16, and $473.8 million six months out from the ruling on August 16. If Trump’s appeals process in the case keeps going on for another year, he’ll owe $494.4 million as of Feb. 16, 2025.
If you read this and realize your company is screwing you over by calling you contract labor when you should not be, call your state's wage and labor department and file a complaint. Also, you can contact the IRS. There is a way to complain anonymously.
You want your employer to do proper tax classification for several reasons - one, so your SS and MCare matching taxes are paid by them, not by you. Two, to increase your eventual social security retirement benefit. And three, because being a cheapskate and mis-classifying their employees is a dick move. It's the kind of thing trump does. It under-funds social benefits.
Ahead of a significant meeting next month for members of the federal judiciary, a watchdog group hoisted another red flag over U.S. Supreme Court Justice 🔸Clarence Thomas 🔸for what it says is a
👉 “30 year pattern” of cherry-picking his financial disclosures once he is raked in the press.
The renewed call for review of the long-embroiled justice comes exactly a month before the "Judicial Conference of the United States" convenes for its first of only two meetings this year.
The group of federal judges, which is led by the chief justice of the Supreme Court, acts as a policymaking body for federal courts across the land and can also make recommendations to Congress.
It is, as ProPublica has reported at length, a powerful but largely opaque body that polices itself.
On Wednesday, the Campaign Legal Center raised the alarm again, this time in a letter to Lee Ann Bennett, the conference’s acting secretary, urging the group to weigh findings of a troubling pattern that has gone on since 1996.
Using a flowchart to clarify, the watchdog group contends that each time Thomas complied with financial disclosure rules and then received negative media attention, he responded in kind.
When he was first asked to disclose his spouse’s employer between 1987 and 1996 and media reporting exploded on the controversy surrounding his spouse’s employment with the Republican Majority Leader at the time and her role investigating a sitting president, Thomas stopped formally reporting his spouse’s employment until the media caught on in 2011.
When he first complied with disclosing his travel expenses from a friend in 1997, and then media reporting emerged a year later that he traveled on a private jet and had expensed a “wealthy real estate magnate,” the justice spent the next 24 years omitting any disclosures on travel expenses from his friends until reports surfaced in 2023.
The same thing happened in 2002 when he initially disclosed tuition he had gifted to a grandnephew.
Two years later, he was outed in the press about the tuition gift, and by 2009, Thomas again stopped disclosing tuition gifts entirely.
In 2011, Thomas initially complied with a disclosure for assets he had sold off, including those assets sold without capital gains.
That same year, reporting emerged on the role he played in having Harlan Crow purchase real estate in Georgia from a third party.
That too appears to have prompted the justice not to fully disclose those details for at least three years until the press unearthed the omission, the CLC contends.
This all goes toward proving Thomas knowingly and willfully violating the Ethics in Government Act, the center argues. Extensive details about the omissions can be found in the CLC’s 161-page letter
Excellent recap of the #MAGA judge's consistent disclosure failures over several decades. Looks like a clear pattern.
Disclosure is just one thing. If you don't declare something in your income tax declarations, that often leads to #TaxFraud.
I hope someone in the #IRS and the #DoJ's #TaxDivision is looking at these (partially) new findings closely. They seem to be showing intent if fraud were involved.
From the climate impact alone, I wouldn’t touch Bitcoin with a bargepole .
“Bitcoin alone is estimated to consume 127 terawatt-hours (TWh) a year — more than many countries, including Norway. In the United States, cryptocurrency activity is estimated to emit from 25 to 50 million tons of CO2 each year, on par with the annual emissions from diesel fuel used by US railroads.”
(via Rocky Mountain Institute)
The least-worst coin is #Monero :monero: but only because it's developers actually do give a damn and designed it to be a #Payment system and not a #Gambling tool for sociopathic assholes!
#Now it’s #Ivanka Trump’s turn to face questioning in the #civil#fraud#trial that is publicly probing into the family business. #Trump’s eldest daughter, who has been in his inner circle in both #business & #politics, is due on the stand Wed, after trying unsuccessfully to block her #testimony.
The #AllenWeisselberg testimony went very badly, especially because it was reported that he perjured himself on the first day which would violate his release from #jail for his #criminal#TaxFraud conviction.
The day began w/ yesterday’s drama. Trump attys accused #NY Supreme Court Justice Arthur #Engoron's #LawClerk, #AllisonGreefield, of bias, & the asserted she influences the judge.
Yesterday, Engoron warned Trump atty #Kise not to speak about court staff, & noted a pattern of #misogyny in Kise’s behavior toward women in the courtroom.
#EricTrump: "It's very clear that Mar-a-lago is not a club, it's a private residence,...so yes, 100%.”
#NYAG turned to the separation agreement between #AllenWeisselberg & the #TrumpOrganization which was executed after his #conviction for #TaxFraud. The agreement explicitly stated that #Weisselberg agreed not to cooperate in any proceedings against Trump unless compelled to do so by authorities. A #TrumpOrg payment of $2M to Weisselberg was contingent upon his signature. (#WitnessTampering)
Trump Jr said that all decisions for the #TrumpOrg changed to, "Allen Weisselberg, myself & my brother” (#EricTrump; nobody ever remembers #BarronTrump, even his big bro) after Trump was inaugurated in Jan 2017.
November 1 — Don Jr.
November 2 — Eric T
November 3 — Ivanka T
November 6 — Donald T
(We'll see whether that holds.)
If they plead the 5th, civil trials allow for adverse inference.
If they don’t, anything they say can be used against them in criminal investigations
State lawyers: Ivanka Trump was a key participant in events discussed in the case and remains financially and professionally intertwined with the family business and its leaders.
Ivanka's lawyer, Bennet Moskowitz to judge Friday that NY AG "just do NOT have jurisdiction over her."
“The idea that somehow Ms. Trump is under the control of the Trump Org or any of the defendants, her father — anyone who has raised a daughter past the age of 13 knows that they’re not under their control,” -Christopher Kise -trump lawyer.
Trump continued to #attack#James, #Engoron & the trial itself in posts to his social media platform this morning.
He again suggested that the trial is an attempt to interfere w/ his presidential campaign & complained about the lack of a jury in the trial.
(It is long established that either are issues)
Trump won’t be in court today. He had no legal obligation to attend, & left yesterday, noticeably angry.
“Between 2011 & 2021, you value the #MaraLago property between $18 million & $28 million,” Moskowitz wrote in the letter….
“Mar-a-Lago was listed as worth $490 million in financial documents given to banks,” he wrote. “If the property value of Mar-a-Lago is so much higher than it was appraised, will you be amending the property value in line w/the #Trump family’s belief that the property is worth well over a billion dollars?”
> Donald #Trump's scramble to move his Manhattan tax fraud case to federal court not only failed but also handed District Attorney Alvin Bragg a massive win in the form of a ruling that lowers his burden of proof to convict the former president. According to a report from the Daily Beast's Jose Pagliery...
I wounder when some folks at @bka, @bmi & @BaFin figure out that #NFTs and #Blockchains are not only being used and abused to commit #TaxFraud, but as a means to distribute links to #CSAM.
Pretty shure they'll ban :bitcoin: #Bitcoin and #Ethereum once they find out...