Trump Paid Just $750 taxes in 2016 and 2017 !

[squatz1]

I think it's because he doesn't want people to know that he's not a successful businessman, just a reality TV star that's good at being famous.

What's the source on this by the way?

I read something very funny the other day, which is probably present for all people who inherited tons of money at some point in their life. The whole article was about how if Trump had just taken his $474m he inherited in and put it in the stock market he would now be worth like double what he is now. Obviously his inheritance come in drips and drabs instead of all in one go. Plus he would've had to liquidate real estate holdings into cash for this as well.

[JollyGood]

Why would a person who was once a presidential candidate and then later became a president make deals and settle with the IRS?

Anybody who is fiddling their tax returns should not be allowed anywhere near the presidency of any country.

I'm guessing the reason you wouldn't want to release them during an audit is that the legal team / tax law team is interested in ensuring that the financial ramifications of the audit are as low as possible. If you are to release your tax returns to the public you risk pressure on the IRS to ensure that they make penalties as strict as possible....

Sounds reasonable. In such a situation I might make a quick compromise offer to the IRS, something like "let's settle for 1/2 the disputed amount, but this offer is only good for 10 days."

But then people'd complain he got off easy.

[Spendulus]

Why would a person who was once a presidential candidate and then later became a president make deals and settle with the IRS?

Anybody who is fiddling their tax returns should not be allowed anywhere near the presidency of any country.
...

Why should someone settle?

One reason would be if the point of tax law being discussed is in fact unclear and subject to multiple interpretations.

The IRS makes deals and settles with a vast number of taxpayers, for various reasons.

[TwitchySeal]

Why would a person who was once a presidential candidate and then later became a president make deals and settle with the IRS?

Anybody who is fiddling their tax returns should not be allowed anywhere near the presidency of any country.
...

Why should someone settle?

One reason would be if the point of tax law being discussed is in fact unclear and subject to multiple interpretations.

The IRS makes deals and settles with a vast number of taxpayers, for various reasons.

Another reason would be because you did whatever has been alleged and the offer now is better than if you made them put the effort into proving what you already know is true.

This reminds me of your silly "Michael Flynn is innocent because he admitted he was guilty (twice) and took a plea deal." argument.

[Spendulus]

Why would a person who was once a presidential candidate and then later became a president make deals and settle with the IRS?

Anybody who is fiddling their tax returns should not be allowed anywhere near the presidency of any country.
...

Why should someone settle?

One reason would be if the point of tax law being discussed is in fact unclear and subject to multiple interpretations.

The IRS makes deals and settles with a vast number of taxpayers, for various reasons.

Another reason would be because you did whatever has been alleged and the offer now is better than if you made them put the effort into proving what you already know is true.

This reminds me of your silly "Michael Flynn is innocent because he admitted he was guilty (twice) and took a plea deal." argument.

I can see that. In the case of the IRS, they would much prefer to take someone who seemed to owe tax, and settle, collecting something, rather than risking the court process and possibly losing, or winning and collecting nothing.

That's entirely different than weaponizing the IRS and using it vindictively against political enemies.

Plea bargaining and settling are very similar processes.

[TwitchySeal]

someone who seemed to owe tax

someone who in fact did owe tax*

[Fortify]

I found it rather interesting when the New York Times released an article the other day stating that Trump has Chinese bank accounts. I have a strange feeling that the Chinese government, being an authoritarian style, would be much harder to skirt around any sort of tax laws - meaning he probably paid more in taxes to China than he has to his home country. This is how a business mind works and it's still shocking that the average working person on the street thinks that Trump is trying to help them and not just enrich himself further.

[TwitchySeal]

I found it rather interesting when the New York Times released an article the other day stating that Trump has Chinese bank accounts. I have a strange feeling that the Chinese government, being an authoritarian style, would be much harder to skirt around any sort of tax laws - meaning he probably paid more in taxes to China than he has to his home country. This is how a business mind works and it's still shocking that the average working person on the street thinks that Trump is trying to help them and not just enrich himself further.

Haven't seen what he's paid to China, but the NY Times article reported that he paid ~$15k to Panama, $100k to india and $150k to the Philippines.

[JollyGood]

This sort or ambiguity has a stench of elitism and that should not be applied to a presidential candidate or incumbent, it is far more synonymous with those suited and booted tax evaders and tax avoiders that sit on the corporate ladder within high powered institutions that makes them think they are above the law because of the donations they make to their favourite political parties.
 

Why would a person who was once a presidential candidate and then later became a president make deals and settle with the IRS?

Anybody who is fiddling their tax returns should not be allowed anywhere near the presidency of any country.
...

Why should someone settle?

One reason would be if the point of tax law being discussed is in fact unclear and subject to multiple interpretations.

The IRS makes deals and settles with a vast number of taxpayers, for various reasons.

[Spendulus]

someone who seemed to owe tax

someone who in fact did owe tax*

Well, that would indicate a final determination by the IRS and the courts in the audit, which has not yet occurred.

Which is why I phrased it as "seemed to owe tax." The IRS can be wrong.

This sort or ambiguity has a stench of elitism and that should not be applied to a presidential candidate or incumbent, it is far more synonymous with those suited and booted tax evaders and tax avoiders that sit on the corporate ladder within high powered institutions that makes them think they are above the law because of the donations they make to their favourite political parties.

The IRS routinely settles for a fraction of what's due, often with small businessmen or individuals that have fallen on hard times.

[BADecker]

They even pester a president for money. At least he kept the amount low. Good work, Trump! Way to go!