And if someone gave money to another person, who then gave this money to Reille Hunter, wouldn't the person giving the money have to report it on their tax forms, followed by the person receiving it, followed by Reille Hunter receiving it?
Just questions, just mere speculation, but there would be legalities involved if this CBS story were true.
Whay say you?
The person giving money in excess of 12K will have to file a gift tax return. I don’t believe the recipient of the gift is required to report it.
“I’ve never paid a dime of money to any of the people that are involved. I’ve never asked anybody to pay a dime of money, never been told that any money’s been paid.”
This guy is a lawyer and this was practiced. Use your Clintonian decoder ring:
“I’ve never paid a dime...”
No dimes!
And if he means no money, then, still, he wasn’t the one paying.
“I’ve never asked anybody to pay...”
They volunteered! Gee, it would sure help me out and help make you the predidential chief of staff if this little problem went away...
“never been told that any money’s been paid”
Was he told it was going to be paid? Did he know it was paid? Did he know it was going to be paid? He doesn’t answer any of these questions.
That was a classic literal answer designed to get people to report something he didn’t say.
Yup, my thoughts exactly...
The one giving the gift is responsible for declaring and paying the taxes... And it’s a pretty hefty tax as well, IIRC the gift tax is 55%, but I could be wrong. I also believe that there’s a $1,000,000 exemption option as well, but I could also have that wrong too.
The tax code is NOT my forte.
Mark
He could gift $12k to 100 people who in turn gifted her $12k each she would have $1.2 million tax free and unreportable.
That statement sounds like Clinton’s “I never told any person to lie, not ever”.
Once a LIAR, always a LIAR. Nough said!!!
Strange how they refer to her as his “ex.” Before the National Enquirer story broke, he was still seeing her...not hardly an “ex.”
So his campaign manager was sending money to them, regularly, but didn’t know why he was doing it, and Edwards never told him to do it??????
Darn shame that Qui Tam doesn’t apply for tax cases.
I will be eagerly watching for the Enquirer to break this story:
“Breck Girl Edwards’ Backside Sore from Prison Cellmate Rump Bump”
you can give up to the annual exclusion amount ($12,000 in 2007 and 2008) to any number of people, every year, without facing any gift taxes, and without the recipient owing an income tax on the gifts.
And you can give up to $1,000,000 in gifts that exceed the annual limit, total, in your lifetime, before you start owing the gift tax.
If you give $15,000 each to ten people in one year, for example, you’d use up $30,000 of your $1 million lifetime tax-free limit—ten times the $3,000 by which your $15,000 gifts exceeds the $12,000 per-person annual gift free amount.