Cohen: Trump feared audit if he released tax returns

JacksinPA · Feb 28, 2019

Cohen: Trump feared audit if he released tax returns | Reuters

WASHINGTON (Reuters) - U.S. President Donald Trump’s former personal lawyer Michael Cohen said on Wednesday that Trump has not released his tax returns because he feared that public scrutiny would lead to an audit and tax penalties.

In congressional testimony that could aid efforts by House Democrats to obtain Trump’s returns, Cohen also said he does not believe the president is under audit, despite repeated claims by Trump that he could not release his returns because they are being audited by the Internal Revenue Service.
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A lot of supposed truth came out during Cohen's testimony yesterday. One of the bigger lies: that Trump couldn't release his tax returns because they were under audit. Per Cohen, Trump didn't want to release his returns because he was afraid that would trigger an audit. Trump is said to play games with valuing properties in his portfolio & than an audit could result in tax penalties.

Mycroft · Feb 28, 2019

JacksinPA said:
Cohen: Trump feared audit if he released tax returns | Reuters

WASHINGTON (Reuters) - U.S. President Donald Trump’s former personal lawyer Michael Cohen said on Wednesday that Trump has not released his tax returns because he feared that public scrutiny would lead to an audit and tax penalties.

In congressional testimony that could aid efforts by House Democrats to obtain Trump’s returns, Cohen also said he does not believe the president is under audit, despite repeated claims by Trump that he could not release his returns because they are being audited by the Internal Revenue Service.
========================================
A lot of supposed truth came out during Cohen's testimony yesterday. One of the bigger lies: that Trump couldn't release his tax returns because they were under audit. Per Cohen, Trump didn't want to release his returns because he was afraid that would trigger an audit. Trump is said to play games with valuing properties in his portfolio & than an audit could result in tax penalties.

Utter nonsense.

Trump's taxes are audited every year. Releasing them to the public won't make something happen that already happens.

uptower · Feb 28, 2019

Feared indeed. With Cohen singing like a canary the post game analyses are revealing even more juicy details:

Ekeland: AOC Got Cohen to Implicate Trump in Wire Fraud | Law & Crime

Fox will no doubt grow even more shrill about AOC since she got Cohen to state under oath his client committed tax fraud. Another piece of evidence congress could use to justify demanding to see the tax returns.

The public doesn't necessarily need to see them (yet), but how well will they hold up under congressional scrutiny?

RabidAlpaca · Feb 28, 2019

Mycroft said:
Utter nonsense.

Trump's taxes are audited every year. Releasing them to the public won't make something happen that already happens.

Please provide some kind of evidence showing that Trump has been audited every year. I'll even settle for being audited once or twice in the past 10 years.

Exactice · Feb 28, 2019

Mycroft said:
Utter nonsense.

Trump's taxes are audited every year. Releasing them to the public won't make something happen that already happens.

This is easy to find out. Yes or NO is his stuff under Audit, and I think it has been said many times...

Secondly. SO WHAT, I know I do not want to be audited either so I dont care what people say Im NOT going to release my information be it publicly just for the heck of it, it not required by law. HECK yes EVER big business owner is afraid of audit...I am not sure what person is NOT afraid of audit? But I guess another nail in the coffin, this breaks no LAWS just more ammo to accuse....jeebus.....

uptower · Feb 28, 2019

JacksinPA said:
Per Cohen, Trump didn't want to release his returns because he was afraid that would trigger an audit. Trump is said to play games with valuing properties in his portfolio & than an audit could result in tax penalties.

It's interesting the games the rich get to play with their money and taxes, while the rest of us have no choice. Oh I don't think I want to pay taxes on this one so I'll make something up. For the working poor it's the difference between having a meal or not. For Trump, just more cash in the bank the 'king of debt' will never touch.

JacksinPA · Feb 28, 2019

uptower said:
Feared indeed. With Cohen singing like a canary the post game analyses are revealing even more juicy details:

Ekeland: AOC Got Cohen to Implicate Trump in Wire Fraud | Law & Crime

Fox will no doubt grow even more shrill about AOC since she got Cohen to state under oath his client committed tax fraud. Another piece of evidence congress could use to justify demanding to see the tax returns.

The public doesn't necessarily need to see them (yet), but how well will they hold up under congressional scrutiny?

The part I liked best was the copy of the check Trump signed while President for repayment to Cohen for his hush money (read 'bribery') personal payments to Stormy Daniels. Sounds like the President was conducting a criminal conspiracy between himself & Cohen from the WH OO.

Mycroft · Feb 28, 2019

JacksinPA said:
The part I liked best was the copy of the check Trump signed while President for repayment to Cohen for his hush money (read 'bribery') personal payments to Stormy Daniels. Sounds like the President was conducting a criminal conspiracy between himself & Cohen from the WH OO.

I know you've been told this more times than you can count...there is nothing illegal about paying someone to keep quiet.

Exactice · Feb 28, 2019

RabidAlpaca said:
Please provide some kind of evidence showing that Trump has been audited every year. I'll even settle for being audited once or twice in the past 10 years.

Donald Trump’s tax returns will be immediately under audit
"Under an obscure Internal Revenue Service rule, the tax returns of the president and vice president are automatically audited, every year, no exceptions.

That rule has been in place in one form or another since the Nixon administration, and it details the process for auditing presidential tax returns in minute detail — even down the color of folder they must be kept in.'

4.8.4 Mandatory Review | Internal Revenue Service

4.8.4.2.5 (03-12-2015)
Audit of President and Vice President
The individual tax returns for the President and the Vice President are subject to mandatory review and will be closed directly to the "employee audit reviewer" in Baltimore Technical Services. See IRM 4.2.1.11 (8)

Secondly, assuming normal procedures Large business people usually are scrutiny of Audit, but at this short time I cannot find a direct answer but the assumption is.

YES he is has been under audit
YES I am as well as he is scared as balls of an audit and I dont make anything near what he makes?

So what is the implication here or the concern here??

Mach · Feb 28, 2019

Mycroft said:
I know you've been told this more times than you can count...there is nothing illegal about paying someone to keep quiet.

- Where is Mycroft's evidence that Trump's taxes are audited every year?
- Where is Mycroft's evidence that the factual campaign finance violation that both AMI and Cohen plead guilty to as a felony charge, is not illegal?

You're back to birtherism CT nonsense?

Lutherf · Feb 28, 2019

uptower said:
Feared indeed. With Cohen singing like a canary the post game analyses are revealing even more juicy details:

Ekeland: AOC Got Cohen to Implicate Trump in Wire Fraud | Law & Crime

Fox will no doubt grow even more shrill about AOC since she got Cohen to state under oath his client committed tax fraud. Another piece of evidence congress could use to justify demanding to see the tax returns.

The public doesn't necessarily need to see them (yet), but how well will they hold up under congressional scrutiny?

AMAZING!!!!

Everyone has doubted AOC and she's been the subject of incessant and unwarranted ridicule but with all the lawyers in congress and the Mueller team she ends up being the one who takes Trump down. Somebody really should write a book about this amazing woman!

Or...perhaps....the guy that wrote the story is engaging in a bit of wishful thinking and maybe a little AOC fetishizing as well.

uptower · Feb 28, 2019

Lutherf said:
AMAZING!!!!

Everyone has doubted AOC and she's been the subject of incessant and unwarranted ridicule but with all the lawyers in congress and the Mueller team she ends up being the one who takes Trump down. Somebody really should write a book about this amazing woman!

Or...perhaps....the guy that wrote the story is engaging in a bit of wishful thinking and maybe a little AOC fetishizing as well.

Yes there is probably a bit of fetishizing but given the stark contrast between grandstanding from the GOP questioners and the succinct, direct questions that elicited further useful information from AOC, I'll give the author a pass.

As for 'everyone' doubting her, yeah no. A few of the corporate-sponsored Dems have tut-tutted her and there's been 24/7 whining on Fox (when isn't there?) but that's about it.

But this thread isn't really about what we think of AOC: it's about the Cohen testimony and in this case what her questions revealed. They revealed more reasons (bricks in the wall if you like) as to why congress should be looking into Trump. It's probably stuff the prosecutors knew already, and stuff most of us have long suspected, but it's nice to see it made public.

uptower · Feb 28, 2019

Mycroft said:
There is nothing illegal about paying someone to keep quiet.

This borders on deflection at this point. It is well known if it can be demonstrated those payments were for campaign purposes (duh) and were not reported as such then it is illegal. As usual the cover up is worse than the crime. Constantly repeating the mantra that paying hush money itself isn't a crime dodges the real question.

Cardinal · Feb 28, 2019

Mycroft said:
Utter nonsense.

Trump's taxes are audited every year. Releasing them to the public won't make something happen that already happens.

It only occurred to me yesterday that the solde reason I had for believing he was under audit was because Trump said so. In retrospect it was incredibly and obviously foolish to take his word for it.

Do you have a credible source for the claim that he's been under audit every year?

Sgt Meowenstein · Feb 28, 2019

Mycroft said:
I know you've been told this more times than you can count...there is nothing illegal about paying someone to keep quiet.

There is if it is done with campaign funds. But I’m sure you already know that.

JustHanging · Feb 28, 2019

Mycroft said:
I know you've been told this more times than you can count...there is nothing illegal about paying someone to keep quiet.

Nope. Trump is the perfect representative of his base.

Mycroft · Feb 28, 2019

Sgt Meowenstein said:
There is if it is done with campaign funds. But I’m sure you already know that.

So...Cohen paid with his funds and Trump paid him back with his funds.

I don't see any campaign funds in there.

Sgt Meowenstein · Feb 28, 2019

Mycroft said:
So...Cohen paid with his funds and Trump paid him back with his funds.

I don't see any campaign funds in there.

Well, that’s one of the allegations. But even if campaign funds weren’t used, it appears that the payments were made in order to influence the election. Either way, illegal.

Mycroft · Feb 28, 2019

Sgt Meowenstein said:
Well, that’s one of the allegations. But even if campaign funds weren’t used, it appears that the payments were made in order to influence the election. Either way, illegal.

Why would it be illegal for a candidate to spend money to influence an election?

Khayembii Communique · Feb 28, 2019

Mycroft said:
Why would it be illegal for a candidate to spend money to influence an election?

You know why. Money spent to influence an election is a campaign contribution. There are laws around the spending of campaign contributions. Hence the conversation you're currently engaged in...

Exactice · Feb 28, 2019

Cardinal said:
It only occurred to me yesterday that the solde reason I had for believing he was under audit was because Trump said so. In retrospect it was incredibly and obviously foolish to take his word for it.

Do you have a credible source for the claim that he's been under audit every year?

Can I just jump in, I personally dont know if he is audited every year. Personally BUT I can assume that he is audited and that more times than any normal person?

Secondly. What fascination you guys call him a liar anyways, So even if he lies about his net worth, the IRS sees his taxes if he actually lied on his TAXES wouldnt he be in the same mess as manafort and cohen?

So what is the ever far reach for Trumps Taxes. More so the "explosive" allegation by Cohen.

IS he lying about his NET worth? Forbes has him @ $3billion I think one time he said $10billion? So what? Did he pay his taxes legally by the IRS standards Yes or NO?

this fascination is weird? IF ANYONE asked me for my taxes I am like HELL NO. PERIOD and I have nothing to hide and I MAKE CRAP for income? But Im still not going to publicly release my taxes?

SCrider · Feb 28, 2019

RabidAlpaca said:
Please provide some kind of evidence showing that Trump has been audited every year. I'll even settle for being audited once or twice in the past 10 years.

Trump said so. It's like the word from god to him and his ilk.

SCrider · Feb 28, 2019

Exactice said:
Can I just jump in, I personally dont know if he is audited every year. Personally BUT I can assume that he is audited and that more times than any normal person?

Secondly. What fascination you guys call him a liar anyways, So even if he lies about his net worth, the IRS sees his taxes if he actually lied on his TAXES wouldnt he be in the same mess as manafort and cohen?

So what is the ever far reach for Trumps Taxes. More so the "explosive" allegation by Cohen.

IS he lying about his NET worth? Forbes has him @ $3billion I think one time he said $10billion? So what? Did he pay his taxes legally by the IRS standards Yes or NO?

this fascination is weird? IF ANYONE asked me for my taxes I am like HELL NO. PERIOD and I have nothing to hide and I MAKE CRAP for income? But Im still not going to publicly release my taxes?

Are you running for President?

Tax hit between 3 and 10 billion would be significant I would imagine.

Exactice · Feb 28, 2019

SCrider said:
Are you running for President?

Tax hit between 3 and 10 billion would be significant I would imagine.

??? HUH? What does that have to do with anything?

As for my comment I think you may have misunderstood me.

1) Forbes has him @ $3billion estimated worth. The IRS has his Taxes. DID He pay based on this Correctly?
2) I think at one point he said he is WORTH $10 Billion. The IRS has his NUMBERS if that is TRUE did he pay taxes on this

This is my point. So Say hes ACTUALLY WORTH $1billion and pays Taxes PROPERLY on $1 Billion he is a liar saying he is worth $10 Billion but he STILL paid his TAXES properly by the IRS standard. SO WHAT? HE has pays his correct taxable income regardless what made up number he THINKS hes worth?

HAS he violated IRS Tax law, or is he over inflating his net worth by words BUT NOT lying or evading taxes WHICH SURELY the IRS is watching him with a keen eye?

Mycroft · Feb 28, 2019

Khayembii Communique said:
You know why. Money spent to influence an election is a campaign contribution. There are laws around the spending of campaign contributions. Hence the conversation you're currently engaged in...

What makes you think it was intended to influence an election?

Oh...wait...that's right...Cohen says so.

Moving on...

Cohen: Trump feared audit if he released tax returns

JacksinPA

Mycroft

Genius is where you find it.

uptower

RabidAlpaca

Engineer

Exactice

uptower

JacksinPA

Mycroft

Genius is where you find it.

Exactice

Mach

Lutherf

uptower

uptower

Cardinal

Respected On All Sides

Sgt Meowenstein

JustHanging

Mycroft

Genius is where you find it.

Sgt Meowenstein

Mycroft

Genius is where you find it.

Khayembii Communique

Exactice

SCrider

SCrider

Exactice

Mycroft

Genius is where you find it.