Nov. 17, 2024 Update. I ended up voting for Donald Trump both in 2020 and 2024. California has been taken over by the Democrat Socialist Party of America, and things keep getting grimmer. I hope Donald Trump can save California from the destruction of the single family home suburbs.
Grimmer still, Kamala Harris could end up running for Governor of California, truly a reason to leave California if that were to happen.
Grimmer still, Kamala Harris could end up running for Governor of California, truly a reason to leave California if that were to happen.
end of Nov. 17, 2024 Update.
The undiscovered reason Donald Trump has gone all out on Hillary Clinton and even threatened her with a special prosecutor and jail time is because Donald Trump may be facing the same consequences if he loses the 2016 presidential election.
The reason Donald Trump refuses to release his own Income Tax returns has to do with the 20 year get out of debt card Donald Trump played back in the mid 90's.
Even though Trump's likely fraudulent IRS tax deduction of 900 million dollars was claimed around 20 to 23 years ago, it was to be taken over a 20 year time period.
According to a Forbes Magazine Article about how far an IRS Tax Audit can go, The statute of limitations for the IRS to come after a person such as Donald Trump for making up tax deductions that don't exist does not end on the date he first filed his taxes claiming a 20 year, almost 1 billion dollar deduction, the IRS statute of limitations would begin when Donald Trump took the last of his annual write-offs, which was probably around 2015, and run for an additional 7 or 10 years, all the way until around 2022 to 2025.
According to a Forbes Magazine Article about how far an IRS Tax Audit can go, The statute of limitations for the IRS to come after a person such as Donald Trump for making up tax deductions that don't exist does not end on the date he first filed his taxes claiming a 20 year, almost 1 billion dollar deduction, the IRS statute of limitations would begin when Donald Trump took the last of his annual write-offs, which was probably around 2015, and run for an additional 7 or 10 years, all the way until around 2022 to 2025.
So when Donald Trump says he can't reveal his Income Tax Returns, it is because as soon as Mr. Trump publicly reveals his prior Income Tax Returns, a tax expert may realize that Mr. Trump HAS NO IRS TAX FRAUD IMMUNITY regarding his annual tax write-offs that he took right up until possibly 2015. Therefore, the IRS Income Tax Statute of Limitations clock would start from the moment the final write off was taken, which was probably around 2015.
Hence, Mr. Trump is ironically speaking the truth when he states he cannot release his Income Tax Returns because it could then be a slippery slope to the revelation that his filings are not up to a legal standar.
What Mr. Trump doesn't say is it may be a slippery slope to Income Tax Evasion and Fraud charges, along with HUGE, HUGE fines with interest tacked on to each most likely unlawful write off that he took each year for the past 20 years. We could be talking 20 years worth of 20 to 40 million dollar or more per year of ill conceived write-offs, ALL with compounding interest rate penalties that could easily double or triple the total amount Trump could owe.
What Mr. Trump doesn't say is it may be a slippery slope to Income Tax Evasion and Fraud charges, along with HUGE, HUGE fines with interest tacked on to each most likely unlawful write off that he took each year for the past 20 years. We could be talking 20 years worth of 20 to 40 million dollar or more per year of ill conceived write-offs, ALL with compounding interest rate penalties that could easily double or triple the total amount Trump could owe.
Donald Trump, if he loses the election, could be facing billions in back taxes, indictments and time in jail, and that is why Mr. Trump cannot reveal his prior Income Tax Returns, and that is also why Donald Trump continues his belligerence against Hillary Clinton; usually the guilty try and find someone else to lay the blame on.
3 comments:
Good stuff. I think you have nailed it.
Thanks Bob, i think I did as well. For once Donald Trump is being truthful, he really can't reveal his Income Tax Returns, or risk losing billions of dollars and possibly being indicted.
Nice post thannks for sharing
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