THE New York State investigations into Donald Trump's taxes are focusing on tax write-offs for his company's consulting fees after Ivanka Trump reportedly got a $747,000 tax-free check.
A New York Times report published on Thursday claims that the president's daughter appears to have received $747,622 of the millions in consulting fees Trump deducted.
Two people with knowledge of the matter who spoke with the Times said the two fraud investigations – one civil and one criminal – are being conducted independently.
But the offices of Manhattan DA Cyrus R Vance and state Attorney General Letitia James recently issued subpoenas to the Trump Organization in relation to the fees, the sources said.
There's no indication that Ivanka or her siblings are the focus of either probe.
Ivanka, who has formally been an adviser to the president since 2017, bashed the probe as "harassment" by "NYC Democrats."
She claimed that the fraud inquiry into her father's finances was driven by "politics, publicity, and rage."
"This is harassment pure and simple. This ‘inquiry’ by NYC democrats is 100% motivated by politics, publicity and rage," she tweeted on Thursday night.
"They know very well that there’s nothing here and that there was no tax benefit whatsoever."
Alan Garten, general counsel for the Trump Organization, said in a statement that "this is just the latest fishing expedition in an ongoing attempt to harass the company."
The Times report also revealed that the president reduced his taxable income by deducting roughly $26million in fees to unidentified consultants as a business expense on various projects from 2010 to 2018.
Some of those fees appear to have been paid to Ivanka, who on a 2017 disclosure reported receiving payments from TTT Consulting LLC, a consulting company she co-owned.
The subpoenas were focused on the nearly $748,000 in fees Trump's business paid to TTT Consulting for hotel projects in Hawaii and Vancouver, a person with knowledge of the matter told the Times.
The amount was an exact match for the amount in consulting fees the Trump Organization claimed as tax write-offs.
The company's name appears to be a reference to Ivanka and her other family members, according to the Times.
Trump could face a host of legal problems, including possible criminal charges, once he leaves the White House.
He could be prosecuted for charges including defamation, tax fraud, and even obstruction of justice if President-elect Joe Biden chooses to revive Special Counsel Robert Mueller’s investigation.
Biden told NPR in August that pursuing criminal charges against Trump would be bad for democracy – but he wouldn't stand in the way if the Justice Department were to prosecute him.
Vice President-elect Kamala Harris, a longtime prosecutor, told NPR last June while running for president that her administration could prosecute the president.
“I do believe that we should believe Bob Mueller when he tells us, essentially, that the only reason an indictment was not returned is because of a memo in the Department of Justice that suggests you cannot indict a sitting president,” Harris said.
Source: Read Full Article