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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEmbattled Trump Inaugural Committee Failed To Disclose Key Finances To IRS
By Josh Kovensky
January 22, 2019 7:28 am
President Trumps inaugural committee failed to disclose to the IRS how much money it received in ticket revenue, TPM has found after reviewing the groups tax filings, a failure that tax experts find perplexing.
The Trump inaugural committees failure to identify the revenue it generated from the sale of tickets and other perks broke with the practice of previous inaugural committees. In doing so, the tax return that the committee filed with the IRS obscured a key metric of how it raised its record $106.7 million.
On their tax returns, other recent inaugural committees broke out sales revenue separately from contributions from donors. Sales of tickets to events, which often include key officials from the incoming administration, and of merchandise or other items of value were typically listed on the inaugural committees tax return where it asks for program service revenue.
The Trump inaugural committee did not report any program service revenue on its tax return, effectively concealing the amount of cash generated from tickets and anything else that it sold.
I cant think of a legitimate reason why one would not do that, Marcus Owens, an attorney at Loeb & Loeb who served as director of the IRSs exempt organizations division for 10 years, told TPM. Confusion by the accountant perhaps. Obviously, the form calls for it, so the form is not complete and accurate if doesnt do that.
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https://talkingpointsmemo.com/muckraker/trump-inaugural-committee-ticket-revenue-tax-returns
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Embattled Trump Inaugural Committee Failed To Disclose Key Finances To IRS (Original Post)
DonViejo
Jan 2019
OP
K&R They better be deadly serious in upcoming investigations; or become subjects of them
Jeffersons Ghost
Jan 2019
#7
mucifer
(23,477 posts)1. The House is gonna have some fun investigating that.
Jeffersons Ghost
(15,235 posts)7. K&R They better be deadly serious in upcoming investigations; or become subjects of them
Zoonart
(11,830 posts)2. Shocker!
Wounded Bear
(58,598 posts)3. I'm more concerned with where the money went...
than where it came from.
Just sayin'
rsdsharp
(9,136 posts)4. It went into Trump's pocket.
You don't think he actually paid Melania's friend 23 million dollars do you?
He screamed at Christie when he found out he was raising and spending money for the transition, that " It's my fucking money! I don't give a fuck about the law! I want my fucking money!"
If he wanted the transition money, he sure as hell wanted the inaugural money.
Hermit-The-Prog
(33,241 posts)6. just like every mobster there ever was
Dirty Donald makes a good asset for Putin because he's obsessed.
procon
(15,805 posts)5. What, no category for Russian Money Laundering?nt