Trump unlikely to pay a legal or financial price despite allegations of tax dodging

[Miles Archer]

President Donald Trump is unlikely to pay a legal or financial price even if new allegations of extensive tax dodging by him and his family are borne out.

Multiple factors could offer Trump a shield, not the least of which is time: The questionable practices outlined in a New York Times report happened so long ago that a case would be difficult to make today, especially given statutes of limitations.

“It’s certainly possible, although the age of these transactions raises some questions about whether any of it will be collectible,” said Beth Shapiro Kaufman, a former Treasury Department tax official who is now president of the law firm Caplin & Drysdale.

Nonetheless, New York state officials are probing the tax practices of Trump and his family following the report, published Tuesday. The Department of Taxation and Finance, which is responsible for investigating tax fraud, can collect fines and penalties and also refer criminal actions to the attorney general's office.

https://www.politico.com/story/2018/10/03/trump-consequences-unlikely-despite-tax-dodging-allegations-827484

[LastLiberal in PalmSprings]

1. But his huge ego is going to take a huge hit.

I can see the book now -- Trump: The Art of the Steal

I know just who to write it, too -- Tony Schwartz, the ghostwriter who authored the first book. He's mentioned several times how much he regrets having written the original book. I'm sure he's itching to restore his name.

[Miles Archer]

2. That's true...

...because even if they find him guilty and decide it's too late to bring up charges, they're going to say "We found him guilty, but it's too late to bring up charges."

So he'll chuckle and gloat over not having to pay, and may even threaten to sue the State of New York (since he threatens to sue everybody), but he'll have that permanent stench of a guilty guy.

[pecosbob]

3. That's the USA in a nutshell

The game is rigged. The wealthy incur virtually no penalties for any kind of wrong-doing from outright rape to tax evasion. The only way to level the playing field would be to re-write the entire tax code and I don't think the elites are going to let that happen...Hell, half of the Dems in the House and three-quarters of the Dems in the Senate would line up against it.

[llmart]

4. So true.

John and Jane Doe try to under report their earnings by maybe not declaring tip money and the IRS will be at their door in three seconds and fine them too.

I'm wondering if these go back quite a way, what about looking into the most recent tax returns, huh? Wouldn't that give them pause to check recent years?