New York City Is 'Looking to Recoup' Any Unpaid Trump Taxes, de Blasio Says

[mahatmakanejeeves]

Source: Bloomberg

politics

New York City Is 'Looking to Recoup' Any Unpaid Trump Taxes, de Blasio Says

By Henry Goldman
Updated on

City intends to act on findings of NY Times investigation
Trump played tax officials 'like a fiddle,' de Blasio says

New York City will seek any taxes that President Donald Trump should have paid for money he received from his late father, Mayor Bill de Blasio said, following a New York Times report on the transactions.

"It's clear to me that there are real ramifications right now to what has been disclosed, either potential violations of law, or in cases where the statute of limitations has ended that there may be very serious civil penalties that can be applied by both the state and the city," de Blasio said Wednesday. "The city of New York is looking to recoup any money that Donald Trump owes the people of New York City, period."

The New York Times reported Tuesday that Trump received vastly more from his father than he has previously stated and that his father backstopped his son's businesses during times of financial distress. The newspaper reported that the family used a variety of schemes -- some potentially illegal -- to minimize its taxes.
....

The state Finance Department said Tuesday that it would open an investigation into the allegations. The department had previously begun investigating the president's charity, the Trump Foundation. ... De Blasio said the city and state would work together on the new probe. Under New York and federal law, there's no statute of limitations to pursue civil tax cases if authorities suspect an intent to evade taxes. Generally, the activities described by the paper would be too old to lead to a criminal inquiry.


Read more: https://www.bloomberg.com/news/articles/2018-10-03/nyc-is-looking-to-recoup-any-unpaid-trump-taxes-mayor-says

---

David Fahrenthold Retweeted:

https://twitter.com/Fahrenthold

New York City will seek any taxes that Trump should have paid for money he received from his late father, de Blasio says https://www.bloomberg.com/news/articles/2018-10-03/nyc-is-looking-to-recoup-any-unpaid-trump-taxes-mayor-says ...

Link to tweet

[bluestarone]

1. Time to FILE CHARGES!!!

Before their double jeopardy bullshit starts!!

[laserhaas]

17. Spot On!

[bucolic_frolic]

2. No tax returns, no 100,000 documents, no time to review FBI findings, but ....

Hillary's emails were revealed and reexamined, not to mention Benghazi!! Benghazi!! Benghazi!!

Republicans have secrecy, Democrats get rolled.

[djg21]

3. Read.

No criminal charges may be filed because they are precluded by the applicable statutes of limitations. The issue is civil penalties and restitution, which could bankrupt Trump and his entire family. How long does Melania stay once the money is gone?

[Equinox Moon]

4. NY will appreciate being reimbursed for the extra security on trump tower, etc.

[Calista241]

5. don't know how they'd recoup taxes from the 80's and 90's, or even the early 2000's.

he's only required to keep his tax records for 3 years.

[David__77]

6. Doesn't NYC have its own income tax.

If so, wouldn’t the city have that?

[Calista241]

7. New York state requires you to keep your records for 7 years. n/t

[weissmam]

11. Uncle sam keeps them forever

[dflprincess]

8. Anyway the city could also go after him for falsifying documents to justify rent increases?

The sleeze in that family never ends.

[Marcuse]

9. Lock it up!

[sandensea]

13. If I had that kind of power

I'd demolish that rusty, dated pile of glass and mildew, and rebuild the Bonwit Teller building.

Oh, well. If wishes were horses.

[Marcuse]

19. John Baron??

[sandensea]

20. Cheeto's evil twin

That article, of course, was from 1980, when almost nobody knew they were one and the same.

The orange bastard, as you know, went on to demolish the Art Deco sculptures - and then blamed it on the "Polish workers."

"Poland's not sending their best," he no doubt told the museum representative to who he had pledged the works.

[ffr]

10. It would be a windfall for New York or any state for that matter.

Imagine all the programs and/or budget shortfalls they could cover with what Trump has defrauded them of.

[sandensea]

12. They'll have to go to Moscow to find them though.

Cheeto's finances are a veritable Matrioshka doll.

[OhNo-Really]

14. I hope I live long enough to see the conclusion of tax fraud collusion

[SWBTATTReg]

15. If they find evidence of fraud on a tax return, I thought that it opened up the path to ...

examine prior years too, for evidence of fraud. This is my understanding of this process. For federal returns, I thought 7 years was the limit in keeping returns (but I don't know about fraud being found and how it pertains in going back to prior years). The state I don't know the retention on tax returns there in NY is.

[calimary]

16. Go get him, Mr. Mayor!

[Mad-in-Mo]

18. Please take every last nickle belonging to the Trump family.

My not so secret wish is for the entire bunch, excluding Barron, to be penniless and humiliated.