How Ivanka Is Involved In Donald Trump’s Tax Write-off Investigation?

How Ivanka Is Involved In Donald Trump’s Tax Write-off Investigation?”

The subpoenas were issued after a Times investigation into decades of Trump's tax records revealed that the president had paid no federal income taxes for years and his company deducted $26 million in questionable consulting fees.

"This is harassment pure and simple". This "inquiry' by NYC democrats is 100% motivated by politics, publicity and rage".

At the end of September, details of how the president had managed to avoid paying or paying very little taxes for years because he declared or carried losses in his personal businesses. "These politicians are simply ruthless", Ivanka tweeted Thursday.

New York Attorney General Letitia James and Manhattan District Attorney Cy Vance both issued subpoenas to the Trump Organization in recent weeks for documents related to the fees, according to The New York Times.

Some of those fees appear to have been paid to Ivanka Trump, The Times found.

NY authorities investigating the Trump Organization have expanded their inquiries to include tax write-offs involving millions of dollars in consulting fees, according to people familiar with the investigation.

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In 2017 Ivanka became a presidential adviser and that year she filed a disclosure where she reported receiving payments from a consulting company she co-owned, TTT Consulting LLC, that totaled to $747,622.

Alan Garten, an attorney for the Trump Organization, similarly told The Times that "this is just the latest fishing expedition in an ongoing attempt to harass the company". Both the White House and Ivanka have described the probes into the finances as a witch hunt.

In this way, the judge and prosecutor have required documentation from the Trump family business conglomerate, the Trump Organization, regarding these expenses, which could add to a list of judicial problems that the president will have to face once he leaves the White House in January of According to information from Somagnews. It is not known if the IRS has ever questioned the Trump Organization about the practice.

Vance is conducting a criminal probe into the company, while James is conducting a civil investigation. Neither official was quoted in The New York Times article. The tax benefit to Donald Trump from deducting the fees on his companies' federal returns would also be reflected on his NY returns, making it of possible interest to the state.

The investigation has been stalled since last fall, after the president filed a lawsuit to block a subpoena for his tax returns and other financial records.

The civil investigation in NY came after Michael Cohen, once the president's personal lawyer, testified in Congress that the president inflated his assets while seeking loans only to later underreport them while trying to lower his tax burden. "I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits".

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