Posted on 07/01/2021 6:21:24 PM PDT by zeestephen
Allen Weisselberg, the chief financial officer of the Trump Organization, was formally accused by New York prosecutors Thursday of participating in a years-long scheme that allowed him and other company executives to receive "off-the-books" compensation, benefits for which he allegedly neglected to pay taxes on while also raking in tens of thousands in federal and state refunds...[Detailed summary of indictment]
(Excerpt) Read more at msn.com ...
Latisha’s case is toast in any place but a banana republic.
The current SeeBS will allow the old Pravda to hold its head high, secure in the knowledge that it didn’t stoop to the level of American scum Media.
Latisha is rotting foetid dog squeezins.
In an interview Richard Nixon said he thought about fighting to stay but was told the Democrats are going for a criminal conviction so he gave up the fight.
The bloodthirsty bullies are now out to get President Trump no matter what.
May God protect him, his family and us, the people who fight the Dems, BLM types and Marxists.
As long as Trump and the Trump organization has been audited by the IRS, it’s not very believable that NY found criminal tax evasion in a couple of months.
Being constantly audited, does not make you lax in keeping the books or adhering to the law.
And the Trump organization certainly has external auditors that are looking at everything as well.
We will see. But I’m inclined to think this is politically motivated false charges.
Next up NY state will indict the clintons!!
Good question.
1.8 million?
Doesn’t revrunt sharpton owe more than that?
If the IRS believes the underreporting was intentional, then it is fraud. That can be treated criminally and has no statue of limitations.
That said, if a company provides a car for the company’s convenience, or if they provide an apartment in addition to the employee’s regular home for the company’s convenience (so he can work late or start early), then I believe that is NOT income for the employee.
It souonds like there will be a disagreement on the facts. from the article:
“The apartment has been Weisselberg’s primary residence since 2005, and is located on the west side of Manhattan in a building complex previously known as “Trump Place,” though the Trump Corporation did not own the building, prosecutors said....
“Weisselberg spent most of his days each year in New York City, working in the Trump Organization offices at Trump Tower,” the indictment said. “He was a New York City resident, and knew that he was a New York City resident...
After nearly a decade, Weisselberg began paying New York City income taxes in 2013, prosecutors said, only after he sold his home in Wantagh, New York, a seaside town on Long Island.”
So...where did he LIVE? He worked in NYC and that means he owed taxes to NYC, but did he reside at the apartment or at his home in Wantagh?
There are a lot of grey areas in tax law. A preparer is free to use an interpretation favorable to the client as long as it is a reasonable interpretation of what is happening. It may be possible to DISPUTE the interpretation, and if one loses the dispute in tax court, you will owe back taxes and interest. But it is not criminal to work the grey areas.
“In an interview Richard Nixon said he thought about fighting to stay but was told the Democrats are going for a criminal conviction so he gave up the fight.”
The take down of Nixon was one of the most shameful acts in United States history.
It was only possible because the Democrats have owned the DOJ since the 1960’s and New England Republicans could’ve cared less about supporting their Presidents. (See William Cohen of Maine during Watergate)
Plus the one-sided 24/7 media was even worse in the 1968-1974 time period. No Fox News or talk radio to defend Nixon, just ABC, NBC, CBS, The New York Times, and Washington Post creating the narrative.
“There Is nothing new under the sun.”
$1.8 million? That’s pennies to a man worth over $4 billion. All this is is an excuse to target Trump. These people will get what they deserve. It may not be in this life but these evil deceitful people will get what they deserve.
It may be what you believe but you would be wrong.
Use of a company owned or leased vehicle for substantiated business purposes is not taxable, but personal use of that vehicle is always taxable.
That is why as a corporate payroll manager, I had to gather quarterly mileage reports from anyone with a company owned or leased vehicle – total miles traveled - documented business miles traveled = the difference was imputed income, reported as Box 1 wages on their W2 and taxes withheld and remitted including the employer’s share of FICA.
As to the apartment, if a company owns an apartment that multiple executives use occasionally for overnight stays when they are traveling say from their home office (and by home office, I don’t mean their personal home, but the office out which they normally work) to another of the company’s offices for work travel, that use would not typically be taxable, not any different from reimbursing for a hotel stays for business travel. But an apartment used exclusively by an executive either as a primary or secondary residence, is always taxable income.
FYI – over 30 years in corporate payroll and payroll tax compliance.
I agree. I have a deep distrust as to whether this partisan Democrat DA is viewing this as "grey area" case. My experience is that state DA's almost never have any interest in these cases, almost always deferring to the IRS. The fact that the Manhattan DA has apparently spent thousands of hours on this case speaks volumes to me that it is a political prosecution and not a tax prosecution.
Conservatives, however, did have a deep bench of great writers in those years - but, the circulation of our ideas and arguments was very limited...
National Review, American Spectator, the editorial page of the Wall Street Journal (which was also supporting massive immigration 50 years ago!).
Commentary magazine was often excellent in those years, right or center-right on almost every issue.
Most of the once great Conservative-Libertarian think tanks - Heritage, Cato, American Enterprise Institute - were also just getting started, and they would have significant influence when Reagan got elected.
Re: "The take down of Nixon was one of the most shameful acts in United States history."
I agree. The take down of Newt Gingrich, in 1995, was a close second. The GOP leadership did not lift a finger to protect Newt after the Political Left decided to destroy him. Newt has never been the same guy since that happened.
What Newt and the pubbies didn't realize, was how traumatic the loss of the House was to all demonRATs and how rough they would get for revenge.
The RATs controlled the House for over 40 years and had become so used to the power and corruption, that it's loss was beyond belief.
By the same token, many of the newly elected pubbies were rinos and on the take {just like the demonRATs} and so they were easy to blackmail and publicly shame.
They threw Newt under the bus to save their own corrupt asses.
Here is a shocker:
POLITICIANS ARE CORRUPT.
Corporate folks stay in fancy places when they travel, that’s a given. He’s not gonna stay at a F***ing Hilton, he works for Trump, who operates luxury hotels. Liberals get a pass, but are some of the most elitist consumers ever.
Some corporate executives travel 40-50% of the time. Companies reimburse employees for travel expenses including meals and lodging costs when they are away from home overnight on company business. The company also pays for transportation expenses (airfare, rental car, public transit fares, cabs, Uber, or rental limo). The IRS does not tax the reimbursement for travel as income to the employee.
Certainly there are gray areas. Consider VP of sales for a company. Most of the company’s clients are located in New York City, 1000 miles from the corporate headquarters in another state. The VP of sales spends 40% of his time in New York visiting customers and the remaining 60% of his time at the company headquarters or at customer locations in other cities. All of the travel expenses are reimubursable by the company and is not treated as taxable income to the executive.
The company’s accountants look at the hotel expenses of the VP sales and conclude the company would save money by purchasing an apartment in New York for the VP sales to stay in while in New York. Since he is staying at an apartment, instead of a hotel, should he pay taxes on the apartment. Suppose his wife comes to New York occasionally while he is in residence and stays with him in the apartment?
If the executive spends 40% of his time in New York, 35% of his time in the town where the company is headquartered, and 25% of his time visiting other customers, is his primary residence for tax purposes New York because he spends more time there than in any other location? What if he owns a home in the city where he spends 35% of his time and his wife and children reside at that home?
Another example. A corporate officer at a corporation’s headquarters in Ohio is promoted to president of a large subsidiary company company in New York state. He does not want to relocate his wife and children. The company rents an apartment for him to stay in while in New York and flies him on the company jet from Ohio to New York on Monday morning and returns him to Ohio on Wednesday afternoon. He works in the corporate office in Ohio on Thursday and Friday and he spends the weekends at his home in Ohio. Technically he works 3 days a week in New York and 2 days a week in Ohio. He “lives” four days a week in Ohio and three days a week in New York. To which state does he owe income tax or should he prorate his tax payments. If he prorates his income, should it be based on work days or living days?
Primary residence, yes. If it functions as your actual home, yes. But if the company requires you to use it for the company’s convenience? Not something I faced as a tax preparer because most of my clients made less than 50K.
It is certainly possible that this guy was cheating. It happens. It is certainly possible Trump turned a blind eye. That happens often too. But this level or investigation and prosecution for this level of wrong doing is unheard of, except for Al Capone.
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