Karen Elaine 💫Dec 22, 2022
Charlie Savage NYT
Good morning. ICYMI, House Dems released Trump's tax returns & revealed that the IRS had failed to audit Trump his 1st 2 years in office - despite a rule requiring it to audit presidents - & only started 1 when they asked for his tax/audit data in 2019. /1 https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news#trump-tax-returns-irs-audit
Dec 21, 2022 at 10:47amWeb
Show threadCharlie Savage NYTDec 21, 2022
I wrote the above re the vote & dysfunctional audit program w/ @[email protected], @[email protected] & @[email protected]. Overnight, my colleagues @[email protected] @[email protected] & @[email protected] took this first cut at assessing what we learned about Trump's finances. /2 https://www.nytimes.com/2022/12/21/us/politics/trump-taxes-income.html
Trump Paid $1.1 Million in Taxes During Presidency, but $0 in 2020, Report Shows

The former president reported a burst of income after entering the Oval Office, but by the end of his term, his tax filings had reverted to large losses, according to data released by a House panel.

The New York Times
Show threadCharlie Savage NYTDec 21, 2022
By citing heavy losses, Trump paid basically no income taxes for tax years 2017 and 2020. He paid about $1M for 2018 and 2019 bc he sold some stuff & had capital gains taxes. He's got stable interest income, apparently from a stake in a partnership that he doesn't manage. /3
Show threadCharlie Savage NYTDec 21, 2022
He deducted what he reported as large charitable contributions in cash while in the WH and the committee said the IRS should see whether those claims were substantiated. /4
Show threadCharlie Savage NYTDec 21, 2022
The NYT in 2020 uncovered that since 2014 Trump has written off $2.2M in property taxes for a Westchester County estate as a biz expense — even though the law caps individuals t writing off $10K of such taxes a year. The IRS is now looking at that, the committee revealed. /5
Show thread🆘Bill Cole 🇺🇦Dec 22, 2022

@charlie_savage
So he just plain ignored the limit on deducting local/state/muni taxes from federal taxable income, added as a spite move against blue states to the Trump tax breaks.

I wish I was shocked.

Show threadMs Starry NightDec 21, 2022
@charlie_savage its almost as if he put in place a bootlicker, and got special treatment. All politicians should be prepared to show there finances. No exceptions
Show threadBen, Writin’ MoviesDec 21, 2022
@charlie_savage Is it too soon to start chanting "Lock that f***er up!" because it's looong overdue?
Show threadmarktaylorDec 21, 2022
@charlie_savage Trump mobsterised the Federal Government.
Show threadTacito Vito WesterbergDec 21, 2022
@charlie_savage The requirement to audit a president doesn't apply, if the president's wealth is spread over 500 LLCs.