Categories for A- Trump Taxes

27,217. 8/6/2019

CALIFORNIA/LAWSUIT/LEGISLATION/TRUMP TAXES: “President Trump and the Republican National Committee filed a pair of lawsuits on Tuesday [8-6-19] against officials in California challenging a new law requiring presidential candidates to release five years of tax returns in order to be placed on the state primary ballot in 2020. The R.N.C. suit, which was filed in the Eastern District of California and included the California Republican Party and several California Republican voters as plaintiffs, called the law a ‘naked political attack against the sitting president of the United States.’ It was filed against Gov. Gavin Newsom and the California secretary of state. Mr. Trump and his campaign filed a second suit challenging the constitutionality of the new law, and it named the California secretary of state and the state attorney general. In that suit, they argue that states do not have the power to ‘supplement’ the qualifications for the president, set forth by the Constitution.”

Annie Karni, “Trump Campaign Sues Over California’s Requirement to Release Tax Returns,” The New York Times online, August 6, 2019

27,114. 8/1/2019

LEGAL/NEW YORK/TRUMP TAXES: “A federal judge in Washington presiding over a case involving President Donald Trump’s state tax returns said today that he will hear a bid to move the case to New York. District Court Judge Carl Nichols said he agreed to a proposal by New York state to allow it to challenge his court’s jurisdiction over the issue. In exchange, the judge barred the state from turning over the president’s state tax filings to congressional Democrats, should they ask for them under a newly enacted New York law, while the case is pending. The state must also alert Nichols if Democrats request the tax documents while the case is being argued, the judge ordered. He set a hearing on the issue for Aug. 29. The decision was not unexpected, since Nichols said Wednesday he was leaning toward the idea. It comes in a case in which Trump is seeking a temporary restraining order to prevent House Ways and Means Chairman Richard Neal (D-Mass.) from taking advantage of the New York law.”

Brian Faler, “Judge agrees to hear bid to move Trump state tax return case to New York,” Politico, August 1, 2019 5:13 pm

27,082. 7/31/2019

CALIFORNIA/LEGISLATION/TRUMP TAXES: “Gov. Gavin Newsom said he spoke to President Donald Trump on Tuesday [7-30-19] — the same day he signed a confrontational bill aimed at forcing the president to release his tax returns — and insisted he is maintaining a line of communication with the White House. Newsom, appearing at a wildfire-related press conference, would not disclose the specifics of their conversation. But the Democratic governor said he and Trump are ‘continuing to try to work collaboratively together’ — a necessary partnership with Washington on mass shootings, natural disasters and infrastructure development. Newsom continued to defend the bill requiring presidential candidates to release their tax returns if they want to appear on California primary ballots. Standing alongside state officials while announcing a surge in firefighting capacity, Newsom said the tax return bill provides much-needed transparency. California politicians, including Newsom, are also subject to CA SB27 (19R).”

Colby Bermel, “Newsom spoke to Trump on same day he demanded Trump’s tax returns,” Politico, July 31, 2019 4:36 pm

27,054. 7/30/2019

CALIFORNIA/ELECTION/LEGAL/TRUMP TAXES: “President Donald Trump’s lawyers immediately signaled today they will challenge a California law requiring Trump to disclose his tax returns if he wants to appear on primary ballots in the state…A challenge seemed all but inevitable given Trump’s legal moves to stymie House Democrats and New York officials who are also seeking the president’s tax returns. Trump campaign official Tim Murtaugh declined to comment on a potential lawsuit but said the California law is unconstitutional…Newsom clearly anticipated the backlash, accompanying his signing message with quotes from legal scholars attesting the constitutionality of the law.”

Jeremy B. White, “Trump lawyer to California: See you in court,” Politico, July 30, 2019 2:42 pm

26,924. 7/25/2019

DEMS/LAWSUIT/NEW YORK/TRUMP TAXES: “A federal judge decided Thursday [7-25-19] that a different judge should handle President Donald Trump’s suit to prevent House Democrats from obtaining his New York state tax returns, delaying a decision on the president’s request for a restraining order against the Democrats. Judge Trevor McFadden, a Trump appointee, rejected a bid by Trump lawyer William Consovoy to have McFadden hear both that case and a separate lawsuit by Ways and Means Chairman Richard Neal seeking the president’s federal returns. At a hearing Thursday, Consovoy argued the cases are so similar that McFadden ought to handle both. But McFadden disagreed, noting one involved federal tax law and the other state law. What’s more, McFadden said, Democrats are plaintiffs in one case and defendants in the other, and that could have ramifications for their legal strategies in the cases…While the New York case will be reassigned to another judge, McFadden will still handle Neal’s lawsuit for Trump’s federal filings. Lawyers for Neal said they did not have an opinion on whether McFadden ought to take both cases.”

Brian Faler, “Trump’s suit to block Democrats from getting his New York tax returns will be handed off to another judge,” Politico, July 25, 2019 6:15 pm

26,882. 7/24/2019

LEGAL/NEW YORK/TRUMP TAXES: “President Donald Trump’s attorneys asked a federal judge Wednesday [7-24-19] to issue a temporary restraining order to prevent the House’s top tax writer from asking New York officials to turn over the president’s state tax returns. Trump filed suit in the District of Columbia on Tuesday to keep House Ways and Means Chairman Richard Neal (D-Mass.) from taking advantage of a New York law that would give him access to the state returns upon request. New York officials are also named in the suit. But Trump’s attorneys said Wednesday they fear Neal could ask for the returns before the case proceeds…It’s another volley in the tug-of-war between Trump and Democrats who are bent on getting ahold of his tax returns, which he has refused to release voluntarily. Neal has asked a federal court to order the administration to give him six years’ worth of Trump’s returns under a federal law that allows the chairs of Congress’s tax committees to obtain anyone’s confidential tax information.”

Toby Echert, “Trump wants restraining order to keep his New York tax returns away from Democrats,” Politico, July 24, 2019 5:23 pm

26,843. 7/23/2019

DEMS/LAWSUIT/NEW YORK/TRUMP AS PRESIDENT/TRUMP TAXES: “President Trump sued New York State officials and the House Ways and Means Committee on Tuesday [7-23-19] to try to block congressional Democrats from using a recently enacted New York law to obtain his state tax returns. The lawsuit, filed by the president’s private lawyers in federal court in Washington, opens a new front in Mr. Trump’s fight to keep his tax returns secret. His administration has already rejected subpoenas from the Ways and Means Committee for his federal tax information, prompting the House to file a lawsuit of its own in recent weeks seeking enforcement. Now Mr. Trump is moving to close a side door opened by Democratic lawmakers in his home state by asking a judge to declare that the Ways and Means Committee ‘lacks a legitimate legislative purpose’ to request his state tax returns. The suit also seeks to nullify the New York law outright before Congress decides whether to use it.”

Nicholas Fandos and Jesse McKinley, “Trump Sues New York and Congress to Shield His State Tax Returns,” The New York Times online, July 23, 2019

26,240. 7/3/2019

DEMS/HOUSE OF REPS/LAWSUIT/TRUMP TAXES: “House Democrats’ legal bid for President Donald Trump’s tax returns has been assigned to a district court judge appointed by Trump. Trevor McFadden is slated to hear a suit filed Tuesday [7-3-19] by lawmakers demanding the administration turn over six years of the president’s tax filings. McFadden has previously ruled for the administration in another high-profile fight with Democrats, when he decided that lawmakers did not have the legal standing to sue to prevent Trump from reassigning money appropriated by Congress to build a wall along the border with Mexico. The administration is likely to pursue a similar argument in the tax-return case, experts predict, by contending that the court should not get involved in the long-running battle between Congress and the administration. Trump has defied a decades-old tradition of presidents voluntarily releasing their tax returns. Ways and Means Chairman Richard Neal (D-Mass.) is seeking Trump’s filings under a 1924 law allowing the heads of Congress’s tax committees to examine anyone’s private tax information.”

Brian Faler, “Democrats’ suit for Trump’s tax returns assigned to Trump-appointed judge,” Politico, July 3, 2019 12:18 pm

26,220. 7/2/2019

HOUSE OF REPS/IRS/LAWSUIT/TREASURY/TRUMP TAXES: “The House sued the Treasury Department and the Internal Revenue Service on Tuesday [7-2-19], demanding access to President Trump’s tax returns and escalating a fight with an administration that has repeatedly dismissed as illegitimate its attempt to obtain the financial records. The lawsuit moves the dispute into the federal courts after months of sniping between the Democratic-led House Ways and Means Committee, which requested and then subpoenaed the returns, and Treasury Secretary Steven Mnuchin. The case may ultimately go to the Supreme Court, and its outcome is likely to determine whether financial information that Mr. Trump has kept closely guarded in spite of longstanding presidential tradition will be viewed by Congress and, ultimately, the public. In Tuesday’s filing, the House argued that the administration’s defiance of its request amounted to ‘an extraordinary attack on the authority of Congress to obtain information needed to conduct oversight of Treasury, the I.R.S. and the tax laws on behalf of the American people.’ It asked a judge to order the defendants to comply.”

Nicholas Fandos and Charlie Savage, “House Files Lawsuit Seeking Disclosure of Trump Tax Returns,” The New York Times online, July 2, 2019

26,207. 7/2/2019

DEMS/HOUSE OF REPS/LAWSUIT/TRUMP TAXES: “House Democrats on Tuesday [7-2-19] sued for President Trump’s tax returns, marking the beginning of a high-stakes legal fight over his efforts to keep his taxes secret. Ways and Means Chairman Richard Neal (D-Mass.) filed suit in federal court to enforce a subpoena for the records rejected in May by the administration…Democrats are seeking six years’ worth of Trump’s returns under a 1924 law allowing the leaders of Congress’ tax committees to examine anyone’s confidential tax information. Democrats hope the documents will answer a host of questions about Trump’s finances. Trump has defied a decades-old tradition of presidents voluntarily releasing their returns, and his administration is fighting the effort to force his hand, arguing Democrats do not have a legitimate reason for seeking the information. It is just one of a number of subpoenas the administration is battling, in a larger war over congressional oversight.”

Brian Faler, “House Democrats sue for Trump’s tax returns,” Politico, July 2, 2019 1:52 pm

25,735. 6/14/2019

DEMS/JUSTICE DEPARTMENT/STEVE MNUCHIN/TREASURY/TRUMP TAXES: “The Justice Department on Friday [6-14-19] backed a decision by Treasury Secretary Steven Mnuchin to defy a request from Congress for President Trump’s tax returns on the basis that it lacked ‘legitimate legislative purpose.’ The department issued a 33-page memo, dated Thursday [6-13-19], that came as House Democrats were preparing a lawsuit as the next step in their effort to gain access to Mr. Trump’s returns. Mr. Mnuchin defied requests made in April and May by the House Ways and Means Committee and refused to comply with a subpoena, setting up a legal battle between the two branches of government. House Democrats are trying to obtain six years of Mr. Trump’s personal and business tax returns using an obscure provision of the tax code that allows congressional tax-writing committees to get the returns of any taxpayer. The memo, written by Steven A. Engel, the head of the Office of Legal Counsel, argued that House Democrats, led by Representative Richard E. Neal of Massachusetts, made the request for political purposes with the intention of releasing Mr. Trump’s tax returns.”

Alan Rappeport, “Justice Dept. Backs Mnuchin’s Refusal to Release Trump’s Tax Returns,” The New York Times online, June 14, 2019

25,246. 5/23/2019

CONGRESS/NEW YORK/TRUMP TAXES: “The New York Legislature passed a bill yesterday that could let members of Congress do something few have: look at President Trump’s tax returns, legally. The bill may lead to further insight into the vast and complex network of Mr. Trump’s business activities, which he has vigorously tried to conceal for decades. After Times reporters obtained printouts from Mr. Trump’s I.R.S. tax transcripts for the years 1985 through 1994, they reported that he had lost $1 billion in just 10 years. The printouts were sent by a person who had legal access to them. Mr. Trump and some of his supporters say the interest in his taxes is a political witch hunt meant to derail his White House agenda. How did the hunt for Mr. Trump’s tax returns end up in Albany? The hunt is in New York because Mr. Trump, who was born in Queens, lived here for years. Until Mr. Trump moved into the White House, he lived and worked in Manhattan. That meant he filed taxes in New York, and that the information is in the hands of state officials. Democrats, who have long occupied the governor’s office, recently took full control of the Legislature, giving them the power to write a bill to release tax returns under certain circumstances.”

Azi Paybarah, “How New York Cleared a Path for Congress to Get Trump’s Tax Returns,” The new York Times online, May 23, 2019

25,234. 5/23/2019

CONGRESS/TRUMP TAXES: “President Donald Trump won’t release White House visitor logs, he refuses to hand over his tax returns, he made staffers sign non-disclosure agreements and he’s balking at congressional investigators. Yet during a Rose Garden speech on Wednesday [5-22-19], he again proclaimed himself ‘the most transparent president’ in U.S. history, adding to the reporters gathered before him, ‘I think most of you would agree.”’ It may be true that Trump reveals more of his personal thoughts and emotions than any of his predecessors. But by most other measures of presidential transparency, including the congressional oversight at issue during his White House appearance Wednesday, Trump operates behind dark-tinted windows. The end to White House visitor logs, a way for the public to see who is getting direct access to the most powerful man in America, is a break from Obama administration practice. He’s the first president in decades not to release his tax returns. No modern White House has held as few daily press briefings as Trump’s, a ritual his Pentagon and State Department have also largely phased out. And while many presidents have battled Congressional oversight requests, Trump has dismissed the queries of House Democrats as illegitimate partisan inquests.”

Andrew Restuccia, “Trump’s ‘most transparent president’ claim looks cloudy,” Politico, May 23, 2019 6:45 pm

25,176. 5/22/2019

DEMS/INVESTIGATIONS/NANCY PELOSI/STEVE MNUCHIN/TREASURY/TRUMP TAXES: “It was another wild day in Washington as President Trump stormed out of a three-minute Oval Office meeting with Democratic congressional leaders, Speaker Nancy Pelosi accused the president of a ‘cover-up’ and Treasury Secretary Steven Mnuchin held firm on his refusal to release Mr. Trump’s tax returns to Congress. But Democrats made some headway. In a victory for Representative Adam B. Schiff, the Democratic chairman of the House Intelligence Committee, the Justice Department agreed to release some documents related to the Mueller report. And in New York, state lawmakers passed a bill that would give Congress a path to obtain Mr. Trump’s state tax returns. That was all before noon. Check back later for more. As Democrats weigh impeachment, Ms. Pelosi accused the president of ‘a cover-up.’ Later, Mr. Trump abruptly ended a meeting — three minutes in — with her and Senator Chuck Schumer of New York.”

NYT Staff, “Trump’s Battles: Today’s State of Play,” The New York Times online, May 22, 2019

24,904. 5/11/2019

DEMS/ELECTION/TRUMP TAXES: “I won the 2016 Election partially based on no Tax Returns while I am under audit (which I still am), and the voters didn’t care. Now the Radical Left Democrats want to again relitigate this matter. Make it a part of the 2020 Election!”

Donald Trump, Twitter.com, May 11, 2019 1:32 pm

24,797. 5/10/2019

TRUMP BUSINESS/TRUMP TAXES: “Donald Trump reported more than $1 billion in real estate losses on his tax returns from 1985 to 1994, The New York Times revealed this week. Those losses allowed him to avoid paying any income tax for eight of the 10 years that were reviewed. The Times investigation offered a detailed portrait of Mr. Trump’s financial failures over a decade. It also showed the extent of the special treatment the tax code allows for real estate investments. A portion of Mr. Trump’s losses were related to depreciation, a tax strategy that he, and others in commercial real estate, can use to write down the cost of their buildings over a number of years. Depreciation is just the start for real estate moguls. Favorable treatment for commercial real estate occurs at multiple levels, including income and property taxes as well as more complicated structures that allow savvy families to pass real estate worth hundreds of millions to heirs tax-free. There are myriad benefits, all legal, created specifically for commercial real estate.”

Paul Sullivan, “How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes,” The New York Times online, May 10, 2019

24,751. 5/8/2019

IRS/TRUMP BUSINESS/TRUMP TAXES: “President Trump on Wednesday [5-8-19] defended the more than $1 billion he reported in business losses between 1985 and 1994, a previously undisclosed amount revealed in a New York Times investigation, as a best practice that other real estate developers had also used. Yet even as he tried to explain in a pair of Twitter posts that showing ‘losses for tax purposes’ was considered a ‘sport’ among real estate developers like himself, the president also said The Times’s account was ‘a highly inaccurate Fake News hit job!’ It was not immediately clear what specifically in The Times investigation Mr. Trump disputed. The article reported the staggering figure of $1.17 billion in losses between 1985 and 1994, an amount calculated from 10 years of his tax information obtained by The Times. It also raised questions about the image that Mr. Trump presented of himself, and whether he is a tarnished, not triumphant, businessman. In some years, Mr. Trump appears to have lost more money than any other single taxpayer among an I.R.S. sampling of high earners. Mr. Trump has portrayed himself as a self-made billionaire and master deal maker.”

Eileen Sullivan, “Trump Defends $1.17 Billion in Losses as Just for ‘Tax Purposes’,” The New York Times online, May 8, 2019

24,738. 5/8/2019

TRUMP TAXES: “RT @realDonaldTrump: ….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real…”

Donald Trump, Twitter.com, May 8, 2019 9:45 am

24,737. 5/8/2019

TRUMP TAXES: “RT @realDonaldTrump: Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreci…”

Donald Trump, Twitter.com, May 8, 2019 9:45 am

24,732. 5/8/2019

TAXES/TRUMP BUSINESS/TRUMP TAXES: “President Donald Trump on Wednesday [5-8-19] defended the massive losses he racked up in the 1980s and 1990s, saying the tax write-offs from bad deals were all part of the ‘sport’ of business at the time. The New York Times reported Tuesday [5-7-19] that tax figures it obtained from the years 1985 to 1994 show that even as Trump was loudly touting his wealth and dealmaking prowess, he was bleeding money, some years to the tune of hundreds of millions. But the president on Wednesday said there was no problem with those numbers, asserting that ‘almost all real estate developers’ did the same thing…Trump’s finances have been at the center of a fierce battle between congressional Democrats and the White House, with the administration repeatedly stonewalling requests for the IRS to release his tax returns — which lawmakers say could reveal foreign conflicts of interest — and his businesses taking banks to court for complying with congressional requests. Though the tax information uncovered by the Times is not the same as what Democrats are seeking, the peek into the future president’s finances paints a damning picture of the self-made billionaire branding that that shot him to fame and eventually to the White House.”

Caitlin Oprysko, “Trump defends his massive losses on business deals: ‘It was sport’,” Politico, May 8, 2019 8:49 am

24,730. 5/8/2019

CONGRESS/DEMS/TRUMP TAXES: “President Donald Trump reportedly lost more than $1 billion over a ten-year period — and he avoided paying taxes for eight years during that time due to the losses. The revelation comes amid a brewing battle between Democrats in Congress and the Trump administration about lawmakers’ access to the president’s tax returns for 2013-2018. In 1985, Trump reported losses of $46.1 million from his businesses, which included his casinos, hotels and retail space in apartment buildings, according to a report from the New York Times. The majority of his losses came between 1990 and 1991, when he lost more than $250 million each year, the Times reported. In all, between 1985 to 1994, Trump lost $1.17 billion, according to the Times. As a result of his losses, the New York businessman did not have to pay taxes for eight of the 10 years, the Times also reported. The newspaper did not analyze Trump’s official tax returns, but transcripts of those documents. The White House did not respond to request for comment.”

Rebecca Morin, “Report: Trump avoided paying taxes for 8 years after more than $1 billion loss over a decade,” USA Today, May 8, 2019 8:42 am

24,722. 5/8/2019

TRUMP TAXES: “Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered ‘tax shelter,’ ……”

Donald Trump, Twitter.com, May 8, 2019 5:56 am

24,721. 5/8/2019

TRUMP TAXES: “….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!”

Donald Trump, Twitter.com, May 8, 2019 5:56 am

24,692. 5/7/2019

2016 ELECTION/DEMS/TREASURY/TRUMP TAXES: “Since the 2016 presidential campaign, journalists at The New York Times and elsewhere have been trying to piece together Donald J. Trump’s complex and concealed finances. Now The Times has obtained 10 years of previously unrevealed figures from the president’s federal income tax returns. The tax numbers, for the years 1985 through 1994, paint a far bleaker picture of Mr. Trump’s deal-making abilities and financial condition than the one he has long put forth…Mr. Trump became an unprecedented president — a businessman and reality television star with no government experience — and he broke with decades-old presidential tradition by refusing to release his income tax returns. Questions about what secrets they may hold — about his recent business dealings and the sources of his financing — only intensified with the Russia inquiry, and the Trump administration is now locked in a battle with House Democrats demanding the last six years of the president’s returns. On Monday [5-6-19], the Treasury secretary, Steven Mnuchin, said he would not give a House committee access to the returns.”

Susanne Craig and Russ Buettner, “5 Takeaways From 10 Years of Trump Tax Figures,” May 7, 2019

24,690. 5/7/2019

IRS/TRUMP TAXES: “By the time his master-of-the-universe memoir ‘Trump: The Art of the Deal’ hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns. Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition. The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.”

Russ Buettner and Susane Craig, “Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses,” The New York Times online, May 7, 2019