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re: Manhattan DA charges Trump's company, CFO with tax fraud
Posted on 7/1/21 at 9:13 pm to KiwiHead
Posted on 7/1/21 at 9:13 pm to KiwiHead
quote:
It's not considered a "crime" by the IRS. This is standard operating procedure for executives in large corporations whether they be in New York, Dallas, Chicago, LA or Silicon Valley....especially Silicon Valley. It's not about Weisselberg's day in court, it's the idea that this would even be in court. This tends to be something that at worst should be in an Administrative Court which is basically arbitration. If the DA wants to use this with a bullshite threat of jail time that not even the IRS would pursue for the amounts stated....1.7 - 1.8 million over a 15-16 year period I think this is pretty weak stuff. You are talking about 110,000.00 a year. And leading Weisselberg away in cuffs is severe bullshite that they don't even do to real POS tax cheats that thrive Midtown posing as Hedge Fund Managers.
Like I said in an earlier thread as being in the counsel office at a very large firm in St.Louis we dealt with this shite on a regular basis and in a few cases with greater amounts over a shorter term and none saw the inside of a courtroom....at least on the federal level....on the state level they would not pursue
This is pretty textbook income under-reporting. The law is super clear on what counts as income & what is taxable and a CFO isn't gonna be able to play dumb. Leaving aside that at the moment, this is just a state crime, the IRS does charge this kind of thing criminally. They took down a bunch of NBA refs a decade back for not reporting income made from downgrading their first class plane tickets to coach and pocketing the cash difference. That was a much smaller $$$ than this. Maybe he pays a fine. Maybe he does a little bid. No big deal.
2
Posted on 7/1/21 at 9:32 pm to longwayfromLA
i saw there were 15 felonies being charged. or was it just 15 separate counts of the same thing.
also they are saying it was an entire system of tax fraud, not just the CFO
also they are saying it was an entire system of tax fraud, not just the CFO
Posted on 7/2/21 at 6:25 am to longwayfromLA
The point is that things like this are gratuitous and selective. The NBA refs should never had been charged just given a fine. As to the underreported income aspect I 'm not sure in this case it rises anywhere to the level of evasion since the money in question went into a Keough plan
There's other b.s. as well like receiving big screen TV that normally most tax authorities in reality could give 2 shits about.
They are aiming to flip Weisselberg, but charges like this with no jail time in reality is pretty weak stuff. This is governmental overreach and Vance and James know this. If Wall Streeters and others could get away with much worse and only receive a revised tax bill surely Wesselberg should be afforded the same.
There's other b.s. as well like receiving big screen TV that normally most tax authorities in reality could give 2 shits about.
They are aiming to flip Weisselberg, but charges like this with no jail time in reality is pretty weak stuff. This is governmental overreach and Vance and James know this. If Wall Streeters and others could get away with much worse and only receive a revised tax bill surely Wesselberg should be afforded the same.
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